Property reassessment under way

Special to the Daily Mail

Cherie Roberts, Assessor of Vernon County, reports that she is in the process of reassessing all real estate in the county. State law requires that such a reassessment, or reappraisal, be conducted every odd-numbered year for property tax purposes.

"Our state constitution requires that the value we place on property reflects fair market value," said Roberts "To arrive at that value, my staff and I will he conducting field reviews of all property in the county."

The field review work includes verifying all previously recorded data, evaluating the condition of improvements, and measuring any new additions or buildings. After gathering and updating information regarding the property, the assessor studies recent sales as well as construction costs in the county to establish local market values. If the new values do not reflect market value or are otherwise inaccurate, state funding to local schools could he negatively impacted.

"Basing all values on market value ensures fair treatment to all taxpayers. That is why accurate, updated assessments are essential," Roberts said.

Roberts believes some property values will change due to changes in building costs, low interest rates, the property's location and condition, sales of comparable property and other economic factors. However, the amount of change may vary from neighborhood to neighborhood and even from house to house in some cases.

State law requires the assessor to notify all property owners of any increase in property values. The assessor's office will begin mailing these notices in May.

Unfortunately, the impact of such an increase in valuation cannot be calculated until September when the levies are set by the taxing entities.

While it is the responsibility of the assessor to place accurate values on the tax rolls for 2005, it is clearly the responsibility of the schools and other political subdivisions to set levies, which are the final determination of the amount of taxes.