- The Decatur County tax assessor's office sends residents a assessment notice annually to let people know id their property value has increased, decreased or remained the same.
- If the property value has increased so will the estimated property value cost.
- Watch the story to hear why the city had to advertise that there will be a millage increase even thouse the millage rate will not change this year.
BROADCAST TRANSCRIPT:
There’s a document that can help property owners understand if their property taxes will increase.
WTXL reporter AJ Douglas was in the Bainbridge neighborhood.
It’s called an assessment notice. Douglas explained how it can be used to determine if it's time to come out of pocket to pay more property taxes.
People living in Bainbridge quickly expressed concerns after the city of Bainbridge announced a proposed property tax increase.
But, get this.. The millage rate will not be any different from last year.
"The proposed millage rate of 3.511 is the same as last year. The advertisement is a state law requirement but can cause some confusion when the millage rate stays the same,” said Roy Oliver, Interim City Manager.
Property owners wondering exactly how property taxes could possibly rise under the same millage rate should know that if the Decatur County Tax assessor's office has determined that their property value has increased this year.. Then so will their property taxes.
Mayor Edward Reynolds clarified this information to neighbors that attended Tuesday's public hearing.
"The millage rate is the same so if the value of your property did not change your bill will not change,” according to Reynolds.
Let's do some math,
Forty percent of the property value times the millage rate equals an estimate of property tax cost. So if the property value has increased so will the property tax amount.
Each year the Decatur County Tax Assessor's Office sends property owners assessment notices to let neighbors know if their property value has decreased, increased or stayed the same.
So why announce a potential increase when the millage rate is staying the same?
"The whole city there's an increase of the property tax values and that's the reason we're having to advertise an increase,” said Reynolds.
A press release from the city reads in part quote "When the trend of prices on properties that have recently sold in the city indicate there has been an increase in the fair market value of any specific property, the board of tax assessors is required by law to re-determine the value."
"Just wondering if [the decision] can change or is it final for the budget,” said a neighbor attending Tuesday’s public hearing.
The millage rate has not been finalized just yet. The city will move to finalize the millage rate at the next city council meeting August 20.
The county's tax assessor sent out assessment letters back in May.
