Giles Free Speech Zone

The purpose of the "Giles Free Speech Zone" is to identify problems of concern to the people of Giles County, to discuss them in a gentlemanly and civil manner, while referring to the facts and giving evidence to back up whatever claims are made, making logical arguments that avoid any use of fallacy, and, hopefully, to come together in agreement, and find a positive solution to the problem at hand. Help make a difference! Email "mcpeters@usit.net" to suggest topics or make private comments.

Thursday, July 14, 2011

Nothing Is Certain But Taxes, Death And Obfuscation Of The Truth

I started this new thread in order to post an e-mail from the State Equalization Board concerning what is being said by the tax assessor and county executive about the increase in the tax rate. It is claimed by the Tax Assessor and the County Executive that a letter was sent by the state requiring that they increase the property tax another seven cents. As reported by Mrs. Vanzant, when a copy of the letter was requested, that letter had been taken by Mrs Garner on vacation with her. Already a called meeting of the Finance Committee and the Legislative Body has been scheduled for only days after the regular Legislative Body meets on the 18th.
This is from the State Equalization Board:
Property tax reappraisal and certified tax rates.
The closest thing to a prohibition on property taxes being higher in a year of reappraisal is the certified tax rate law, sometimes called “truth in taxation.” This is a summary of the law.

Property taxes and reappraisal
Property taxes are the largest single source of funding for local governments, and are used primarily to fund public schools. The tax is based on a percentage of the fair market value of property determined as of January 1 of the tax year. The percentage of value, known as assessed value, varies according to whether the property is farm/residential property (25% of fair market value), commercial/industrial property (40%) or public utility property (55%). In addition to the property value, the other determinant of the total tax bill is the tax rate, expressed as an amount per $100 of assessed value, which is adopted by county commissions and city councils each year after considering their annual budgets. Taxpayers can discuss or complain about property value at the office of the assessor and the county board of equalization, usually during May or June of the year, and they can discuss or complain about the tax rate at the office or meetings of their county commissioners or city councilmen or aldermen, beginning usually in July of the year.

The law requires that land and buildings be revalued for property tax purposes at least every six years (sometimes more often) because actual property values change at different rates in different parts of the county. Unless the assessor’s recorded values change with these actual rates of change in value, the tax as a percentage of the actual value will be greater for one homeowner or business than for another owner of the same type of property.

Certified tax rates
Higher values during a reappraisal do not necessarily mean higher taxes. The law requires the counties and cities to reexamine property tax rates after a reappraisal to make sure higher taxable values do not automatically result in a tax increase. Known as the certified tax rate law or “truth-in-taxation”, the law requires local governments to conduct public hearings before adopting a property tax rate that generates more taxes overall in a reappraisal year than were billed the year before at the previous year’s lower values. If the new tax rate following a revaluation does not exceed the certified rate, the average tax bill may actually remain the same. If the property value increased as the result of the revaluation more than the average, the taxes may be somewhat higher, while if the value increased less than the average, the tax bill may actually be lower in a revaluation year compared to the year before.

Once a certified rate is calculated by the assessor and chief executive of the tax jurisdiction, and reviewed by the State Board of Equalization, it is submitted to the jurisdiction’s governing body for formal determination, usually for consideration with the budget. If the budget will require an increase above the certified rate, the governing body must publish notice of a public hearing on whether to exceed the certified rate and then may proceed to adopt an actual tax rate after the hearing. If the certified tax rate is exceeded, the jurisdiction must send the State Board of Equalization an affidavit of publication for the hearing notice, and a certified copy of the final tax rate ordinance or resolution.

Questions about the certified tax rate law may be directed to the State Board of Equalization at (615) 401-7883, or e-mailed to sb.web@tn.gov.

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This is the highlights of the above statement:
The tax is based on a percentage of the fair market value of property determined as of January 1 of the tax year

In addition to the property value, the other determinant of the total tax bill is the tax rate, expressed as an amount per $100 of assessed value, which is adopted by county commissions and city councils each year after considering their annual budgets.

Taxpayers can discuss or complain about property value at the office of the assessor and the county board of equalization, they can discuss or complain about the tax rate at the office or meetings of their county commissioners or city councilmen or aldermen

The law requires the counties and cities to reexamine property tax rates after a reappraisal to make sure higher taxable values do not automatically result in a tax increase.

the law requires local governments to conduct public hearings before adopting a property tax rate that generates more taxes overall in a reappraisal year than were billed the year before at the previous year’s lower values.

Once a certified rate is calculated by the assessor and chief executive of the tax jurisdiction

If the budget will require an increase above the certified rate, the governing body must publish notice of a public hearing on whether to exceed the certified rate and then may proceed to adopt an actual tax rate after the hearing.

8 Comments:

Blogger Allen Barrett said...

The mystery letter has been miraculously found unless Mrs. Garner was called back from vacation to return it, it was simply unavailable when requested.

Thursday, July 14, 2011 11:44:00 AM  
Anonymous Anonymous said...

Was it unavailable or just more cover up?

Friday, July 15, 2011 9:53:00 PM  
Anonymous Anonymous said...

Or simply more inept reporting by Barrett?

Saturday, July 16, 2011 9:28:00 AM  
Anonymous Anonymous said...

So strange anything Barret says gets 9:28 so upset. Need to cool down don't get so upset, unless you are Janet.

Saturday, July 16, 2011 11:14:00 AM  
Anonymous Anonymous said...

11:14
Not Janet. Just a response to more tyroublemaking is all.

Tuesday, July 19, 2011 11:36:00 AM  
Anonymous Anonymous said...

11:36 You just make more trouble.
Then it goes on and on.
The way I read 11:14's post is it woold be ok for Janet to complain.

Wednesday, July 20, 2011 12:59:00 PM  
Anonymous Anonymous said...

Enabler not posting on this thread anymore?

Monday, October 17, 2011 5:26:00 PM  
Anonymous Anonymous said...

5:26
The only enablers I know of are you and maybe one more who just insist on promoting that lie a certain individual started on me that I would knowingly go along with something wrong.
Ok, your turn again. All this "obfuscating" is hilarious yet low-down mean.
CG

Saturday, January 14, 2012 12:12:00 PM  

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