Wednesday, October 17, 2012
To complicate matters, the ratio of assessment to market value has decreased for both residential and commercial properties. Therefore, the market values the taxes are based on is actually higher than the County reports on their website.
The County’s real estate tax system literally pits one neighbor against another. When a substantial amount of properties in a school district receive lower tax assessments, from either the Assessment Review Commission or Court tax certiorari proceedings, the other properties in the district must pick up the slack. District budgets must be covered one way or another. Of course, if everyone had a fair and equitable tax assessment the bills would be less volatile - tis a consumption devoutly to be wished.