The notion of property taxes starts with the market value of
the land and structures on the property.
These improvements carry values that are considered and established by
the county assessor on an ongoing basis. The assessor has a responsibility to
set overall values of properties within the city to a market threshold of 90 to
105% of corresponding sales data. The
value on an individual property is then used for tax calculations to determine
your property tax.
Each year the Assessor holds a meeting in each jurisdiction
called the Board of Appeal and Equalization.
The purpose of the meeting is to give property owners a chance to
address the value that is set for their property. This meeting is not structured to address the
amount of taxes but rather to address the market value assigned to an
individual property.
The meeting is held by the City Council with the Assessor
reviewing property values that are challenged by property owners. At least one council member must receive
training from the Department of Revenue for a city council to participate in a
local Board of Appeal and Equalization.
The City Council has the authority to address changes in values based on
circumstances that may not be understood by the assessor at the time of the
appraisal. The property owner may have
had a recent appraisal done of their property or removed an outbuilding that
was not recognized, as examples that sometimes come up.
The changes a council can make include the following: They
can reduce or increase the value of a property.
The council can make a property classification change such as from
residential to commercial. The council
can also add properties that were missed.
The city council is prohibited from some actions. They may not reduce the aggregate assessment
more than 1% of the total market value of the city. They cannot exempt a
property from taxation. A member can’t
participate in a decision that has a conflict of interest. The council can’t grant special program
status such as Green Acres to a property.
The city council can’t order a percentage increase or decrease for an
entire class of property. They also
can’t make an adjustment on a property that the assessor was prohibited from
entry.
The Breezy Point Board of Appeal and Equalization is scheduled
for April 17, 2014 at 10:00 AM at city hall.
Property owners will receive a mailed notice of the meeting along with
the assessors proposed value. Open book
reviews can be accomplished with the assessor up to 10 days prior to the
meeting and appointments will be taken on a first come first serve basis for
the day of meeting, but are not required.
If you have a question about the market value of your property this is
your opportunity to have it discussed.
