Projected county property values down slightly in 2008
The Madison County Board of Tax Assessors could render a ruling on the county’s long-awaited tax digest Thursday.
Madison County chief appraiser James Flynt submitted the digest numbers Monday, but the five-person board opted to postpone a vote to further review the figures.
“I personally would like a little more time to study the numbers and break them down,” board member Larry Stewart said.
The board voted 5-0 to table the matter and agreed to call a special meeting Thursday.
This digest shows a $7 million decrease in the county’s overall property value. The digest was $685 million last year, but it dropped to $678 million this year according to Flynt.
The county board of commissioners and other tax-levying entities within the county can’t set their millage rates until the digest is approved. Tax bills for 2008 also can’t be sent out until the digest is approved.
At its meeting last week, the board of assessors voiced concerns that properties in the county were being assessed below fair market value. Opinions differed on whether the tax digest should be approved based on the information at hand in order to go ahead and get the needed digest numbers out to the county.
On Monday, board members didn’t offer a great deal of general comment on the figures presented, other than to say more time was needed for review of the digest.
Stewart also requested additional figures from Flynt.
How long are we going to watch our governments flop and flail before we realize that putting imaginary "values" on real estate as a method to raise revenue is not only inefficient and expensive...it just doesn't work?
Thats why the Department of Revenue has guidelines that the county must abide by. Obviously, according to the paper, the county was within the DOR guidelines rules and regs. so they obviously do not have a problem with the values in this county.