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| Information on Property Taxation |
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On values determined as of January First, one does not start to pay
taxes until eighteen months later.
The "roll back" is the percentage of actual value that is determined by
the Director of Revenue and Finance each year on the several classes of
property where the total value increase STATEWIDE, exceeds four percent
for each class of property. The percentage so determined by the Director
of Revenue and Finance is certified to and applied by the local county
auditor to all property in each class affected throughout the State.
Percentages determined by the Director of Revenue and Finance are the
same for all the assessing jurisdictions in the State.
Increases in assessed value of individual parcels of property as
determined by the Assessor, may exceed four percent within a
jurisdiction.
Agricultural property, except agricultural dwellings, are assessed on
the basis of productivity and net earning capacity using a five-year
crop average and capitalized at a rate set by the Legislature. The rate
is currently seven percent. Tentative and final equalization orders are
issued by the Director of Revenue and Finance in odd numbered years on
or about August 15th, and October 1st respectively. The orders are sent
to the various county auditors who apply them to the classes of property
affected, if any.
Assessors and members of the Board of Review are appointed to their
terms of office. Assessors, in addition to completing the required 150
hours of Continuing Education, must be approved by a majority vote of
the Conference Board in order to be reappointed.
If you desire further information, questions concerning PROPERTY VALUES
or other information relating thereto should be addressed to the
Assessor's office in the respective jurisdiction and not the Board of
Supervisors or Treasurer.
Questions relating to taxes should be addressed to the local county
treasurer.
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