Hinds County Tax Assessor Charles Stokes presented the 2014 property assessments to the Board of Supervisors Monday. He said the county assessments improved by 1.1%. Jackson improved at a rate of 1.6% while Clinton improved at 0.9%. Terry experienced the largest increase at a rate of 3%. However, the news was not good for all cities in Hinds County. Learned fell 7.6% and Raymond did the same at 3.5%.
Meanwhile, Madison County Tax Assessor Gerald Barber issued this press release about the 2014 assessments in his county:
Press release from Madison County Tax Assessor Gerald R. Barber
The 2014 tax rolls were presented today at the Madison County Board of Supervisors meeting.
Barber explained significant changes from previous tax years. One
example is the maturation of the 10 year in lieu Nissan exemption.
Previously Nissan has paid 1/3 of normal property taxes and now those
10 year assets will be taxed at full value. An
amended M.O.U., agreed up by Nissan and Madison County several years
ago, established a minimum tax amount to cover the bond debt incurred by
Madison County. Assets acquired after 2003 are still subject to the 1/3
in lieu, including the new expansion under
construction. Additionally, this year Mississippi State Law requires
an update, and real property has been assessed per the new property tax
manual prepared by the Mississippi Department of Revenue.
No significant increase in property tax is expected due to value
changes. Property assessed values have been compared to the thousands of
sales in our database, and they fall in line with the required ratio
study variances.
Madison County has experienced record-breaking growth, as shown by
the increased number of applications for homestead exemption this past
year. These applications represent new buyers purchasing homes. The
total tax roll assessed value has increased to
over 1.5 billion dollars. Assessed value represents a percentage of
true value based on class use. This value represents a yearly growth of
4.5%. The cities also saw a significant increase :
Canton--------8.4%Flora-----------2.9%
Jackson--- <17 .3="">
Madison-------4.9%
Ridgeland-----3.3%
Taxpayers can view their values on line at
www.madison-co.com click on elected offices,then Tax Assessor. Request for Reviews and Formal Appeal forms are also on line.
Barber commented that this is a milestone year for Madison County. Any county in America would be proud to enjoy such continued growth.He commented that when he was elected on 1988 the tax roll was $179 million, and who would have imagined a $1.5 billion tax roll 27 years later?
2 comments:
Can someone explain why a house I paid 11K for and can not get more than that has a true value of 31K. I just bought it a year ago and made no improvements. The taxes on it are over 1k/yearly. Can I appeal based on the true market value and expect to get anywhere?
7:01: do the tires on your house have less than 50k mikes?
Post a Comment