www.youtube.com – WTOK-TV – 2024-10-18 12:48:44

SUMMARY: The recent discussion around tax increases and property value reassessments has led to confusion. It’s important to clarify that the anticipated 20% figure refers to a potential increase in property values, not taxes, and individual assessments will vary. This reassessment arises from changes in construction costs, market conditions post-pandemic, and observed conditions of properties, with 46,000 parcels evaluated. Some properties may decrease in value, particularly if poorly maintained. Over-65 residents with homestead exemptions will see frozen values. Tax assessments multiply the new value by the millage rate, with owner-occupied properties assessed at 10%. For further inquiries, residents can contact the office or visit their website.

Here is the full interview with the Chief Deputy Tax Assessor surrounding the increase in property taxes.

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