WHAT DOES NEW TAX ASSESSMENT MEAN?

The new tax assessments were mailed out last week, and oh my gosh, the sky is falling.

So, before we get all upset about the idea that we think out taxes are doubling. Our taxes right now are based on 25% of the appraised value. The tax rate now is 1.56.

What this means as a property owner is -for every $100,000. of appraised value your taxes would be $390.

Now, before you go over the edge, the tax rate will be readjusted also. Not sure how much, but just make sure you pay attention to the county mayor's office. so please don't get all upset yet, let the people in charge have time to do their jobs.

Plus, as a real estate broker, I can tell you that most homes in the county were under assessed. When I pull up a home to list and the tax records state the assessed value at $300,000, but the list price, with the way homes are selling is $400,00+. The sellers are very happy.

So, things will be ok. The sky is not falling yet.

Check back for more information as it becomes available.

Thank you for reading my blog.