| By Big Radio News Staff |
Property value reassessment letters will be in the mail this week for Milton property owners.
City assessor Paul Musser says city officials decided to do a revaluation this year because months of real estate inflation have put real market values farther ahead of the previous assessments determined in 2021.
The state also requires municipalities to hit a certain benchmark with their assessments in relation to the state’s published equalized values.
This year’s revaluation process found a 34% average increase in property values as of Jan. 1.
Musser says that an increase in a property’s assessment does not necessarily guarantee a higher tax bill. Any budgetary changes made by taxing entities such as the city or school district would have the bigger effect on an individual’s tax bill, and those changes would take effect regardless of the revaluation, Musser says.
Residents may appeal their reassessed property values. Sometimes differences can be settled with Musser working one-on-one with a property owner, but other cases can end up in front of a review board.
More details, including instructions on how to appeal, will be included with the reassessment notices from the city. From the WCLO newsroom, I’m Tim Seeman.
