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Board to officially set tax rate

After hearing months of complaints from constituents, Pulaski County Board of Supervisors will decide Monday night what impact reassessment values will have on land owners’ wallets.
The supervisors will officially set the new real estate tax rate for 2009-10 at the board’s meeting next Monday night at 7 p.m. in the boardroom at Pulaski County Administration Building on Third Street N.W. in Pulaski.
The county has advertised a tax rate of 50 cents per $100 of assessed value – a 12-cent reduction from the current rate of 62 cents. However, the supervisors could impose a lower rate if it chooses.
The "equalized rate" under the new assessments will be around 46 to 48 cents per $100 of value. The equalized (lowered tax) rate is the rate that would bring in the same amount of revenue under the new assessed values as was collected under the old assessments.
The board is proposing a reduction in the rate to accommodate widespread hikes in reassessed property values. Property owners have protested the new values since last fall, with some complaining that their assessments increased as much as 400 percent.
Hundreds of county residents have packed the last four supervisors meetings, complaining that the new property values cannot possibly be accurate given the downturn in the housing market. They have called for the supervisors to throw out the reassessment and hire a new firm to do them over.
The county has said it cannot have new assessments completed in time to meet the deadline of reassessing property every six years. It has been five years since the previous reassessment.
County officials are considering reducing the amount of time between reassessments so the amount of change will not be so drastic from one reassessment to the next.
County Administrator Peter Huber recommended the board advertise a 54-cent rate in order to give it more leeway in dealing with cuts in state revenue. He pointed out that the board could always impose a lower rate than was advertised, but it cannot impose a higher rate.
Only Robinson District Supervisor Charles Bopp voted against advertising for a 50-cent rate. He indicated he would like to see it be lower to help residents deal with the higher reassessments hitting during tough economic times.

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Board to officially set tax rate

After hearing months of complaints from constituents, Pulaski County Board of Supervisors will decide Monday night what impact reassessment values will have on land owners’ wallets.
The supervisors will officially set the new real estate tax rate for 2009-10 at the board’s meeting next Monday night at 7 p.m. in the boardroom at Pulaski County Administration Building on Third Street N.W. in Pulaski.
The county has advertised a tax rate of 50 cents per $100 of assessed value – a 12-cent reduction from the current rate of 62 cents. However, the supervisors could impose a lower rate if it chooses.
The "equalized rate" under the new assessments will be around 46 to 48 cents per $100 of value. The equalized (lowered tax) rate is the rate that would bring in the same amount of revenue under the new assessed values as was collected under the old assessments.
The board is proposing a reduction in the rate to accommodate widespread hikes in reassessed property values. Property owners have protested the new values since last fall, with some complaining that their assessments increased as much as 400 percent.
Hundreds of county residents have packed the last four supervisors meetings, complaining that the new property values cannot possibly be accurate given the downturn in the housing market. They have called for the supervisors to throw out the reassessment and hire a new firm to do them over.
The county has said it cannot have new assessments completed in time to meet the deadline of reassessing property every six years. It has been five years since the previous reassessment.
County officials are considering reducing the amount of time between reassessments so the amount of change will not be so drastic from one reassessment to the next.
County Administrator Peter Huber recommended the board advertise a 54-cent rate in order to give it more leeway in dealing with cuts in state revenue. He pointed out that the board could always impose a lower rate than was advertised, but it cannot impose a higher rate.
Only Robinson District Supervisor Charles Bopp voted against advertising for a 50-cent rate. He indicated he would like to see it be lower to help residents deal with the higher reassessments hitting during tough economic times.

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