Politics & Government
My Notice of Assessment Arrived in the Mail; What Does It Mean?
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Patch reader Fran writes: "Mail came today. The City says my home's taxable value went up $1,000, and it's state equalized value went down $9,000. Both say it's tentative. This sounds a little out of line here to me. I'm thinking the taxable value should have gone down also, or the equalized value gone up. I'm confused! Does anyone know what's up? Anyone out there have the same situation?"
To answer Fran's, Patch asked City Manager Don Johnson. Here is what he said:
"State equalized value is 50 percent of market value. It is the maximum that taxable value can be," Johnson said. "Taxable value is a calculated number that no longer bears any relationship to market value or state equalized value. It can and will increase with inflation even while state equalized value falls as long as it remains less than state equalized value."
To answer Fran's, Patch asked City Manager Don Johnson. Here is what he said:
"State equalized value is 50 percent of market value. It is the maximum that taxable value can be," Johnson said. "Taxable value is a calculated number that no longer bears any relationship to market value or state equalized value. It can and will increase with inflation even while state equalized value falls as long as it remains less than state equalized value."
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