A Year in Review
by Jim Marfia, Assessor
Last year’s edition of the Assessor’s Office Report told you of the massive reworking of the records we would have to do,
under the supervision of the State Tax Commission. Well, the job is done! For the first time, all of the Township’s assessing will be computerized, in complete accordance with State policy, and to meet the factors imposed by County Equalization. All of us – Jim, Marsha and Laurie – did a huge pile of work, to ensure that everything would be coded properly and on time. And a great big “Thank You” is also due our cheerfully competent
intern, Amanda Wall, formerly of Vandalia, now of GR Bible College, for her tireless coding and drawing work, as well.
There will be another inspection (the “14-point review”) after the Board of Review meetings in March. But we’ve already shown the State inspector what we’re doing, and we have
preliminary approval. All systems are go!
After last year’s large (7%) increase, the County has told us we can hold the line on
Residential Assessment totals this year. With the new, computer-based calculations, this does NOT mean all assessments will remain the same. Some will go down; some (a very few) will increase. What will this mean for your taxes?
If there is still a gap between your Assessed Value and your Taxable Value, this means your taxable value will go up by this year’s Statewide Inflation Rate – 2.3%. If your property changed hands last year, the Taxable Value will rise to this year’s Assessed Value – which is not necessarily the same as 50% of what you paid for the property. (We are not allowed to set assessments simply at half the last sale price; doing that would cost us our licenses.)
And yes – it IS possible for your Taxable Value to go up, even if your Assessed Value goes down. The two values are independently calculated. The Assessed Value is still supposed to be not more than half the market value of the property; the Taxable Value is (except after a sale, or an addition to the property) last year’s Taxable Value, plus the inflation rate.
This year, the Assessor’s Office has been reorganized. Laurie (x 21) will, as always, handle Personal Property concerns; Jim (x16) will deal with Commercial, Industrial, and Agricultural questions. Since she did the vast bulk of the Residential property coding this year, we would ask that you direct your questions on Residential property to Marsha (x35) first.
Of course, the rest of our Office Staff will also be available to answer your
questions at 895-6295, ext.4, or by e-mail at assessing@altelco.net.
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