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McCarthy and the folks working in the administrative office take the figures from the latest assessment, look at what that will generate at the current rate, look at the last budget, work out a likely budget, and figure out what rate will bring in the amount needed for the county’s budgetprobably something like $.60 per hundred dollars.
The BOS will pick the new rate between March 15 and June 15 of next year.
Even though the rate will go down,- the tax on the property should only change a little.
If there were no inflation at all, (besides land prices) and county expenses stayed exactly the same, assuming land went up at exactly the same rate for every property everywhere in the County, the amount you paid in tax on your land would stay the same, even though both the assessed value and the tax rate changed.
Of course there is inflation and property sale price increases are uneven- so the dollar amount of your property tax will tend to slowly go up and, depending on where you are, it may go up more or less than average. Overall, though, changes in your property tax bill will be mostly driven by county budget pressures not land values.
Bill Kossler can be reached at bkossler@timespapers.com
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