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buildings in the county increased by just 16 times compared to the 27 times increase in land values. Under the old appraisal the total value of buildings was set at $6,152,431. With the new 100 percent fair market assessment, buildings are valued at $98,579,200—an increase of 1614 percent.
The new assessment figures will undoubtably mean a sharp reduction in the tax rate. With 100 percent fair market values, a tax rate of approximately 21 cents per $100 will generate the same amount of revenue as this year’s $4.40 rate per $100 applied to the old appraisals on buildings and land.
Normal Reaction According to Jerry Hall, the appraiser from the state department of taxation who
92.8%