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Overall county property value falls 5 percent
Assessment notices will go out soon
Sunday, October 14, 2012
By BULLETIN STAFF REPORTS -
The overall value of property in Henry County is down about 5 percent in the 2013 reassessment.
Commissioner of the Revenue Linda Love said fieldwork has been completed on the 2013 reassessment of all county property, and “overall, we’re down about 5 percent.”
The “total reassessment will be down due to the market, sales and other factors,” she said.
Reassessment notices will be mailed to Henry County residents over the next several days, according to a release from Love’s office.
Residents in some neighborhoods may see decreases in their assessments, while residents in other neighborhoods will experience increases due to differences in market and home sales in specific neighborhoods, Love said.
The latest reassessment reflects the market value of property as of January 2013.
“By state law, all real property must be assessed at 100 percent of fair market value,” Love said. “For many property owners, the values are less than they were four years ago” when the last general reassessment was done.
Residents with questions or concerns about their assessments will find information on appointments and hearings on reassessment notices, Love said.
She cautioned that any increase or decrease in assessed values does not automatically mean an increase or decrease in real estate taxes.
The Henry County Board of Supervisors establishes tax rates as part of each budget process. In this case, that will be done while preparing the fiscal 2013-2014 budget next spring, she said.
For questions about the process or assessment, contact Love’s office at 634-4610.