On Friday we wrote a blog that Washington County projects its millage rate in 2017 will be 2.36 mills, which reflects the County moving to a 100% pre-determined ratio and assessed values reflecting 2015 (as opposed to taxing 25% of the 1981 market value). Over two years ago we wrote that the Washington county website noted ““By itself, a Reassessment is revenue neutral, although it will cause tax burden shifts among properties. Some owners will see increases while others will see decreases, and yet others will remain approximately the same”.
Now the County has produced a document that shows the factor of increase in each municipality and school district in the County as a way for taxpayers to estimate if their taxes will go up, down, or remain the same. The factors are based on the change in old assessed value to new assessed value in the taxing entity (either a municipality or a school district). By taking the current assessment against the factor, a taxpayer can determine what will happen to taxes based on the revenue neutral adjustment. Recall that a taxing body can increase taxes on the reassessed value, it just has to do so in a separate vote, clearly indicating that they are taking such an action.