Digest Falls 10 Percent, Now Below 2004 Values
According to the Preliminary 2011 Digest, as presented to the Board of Tax Assessors (BOA) by Chief Appraiser Lynn Bentley at their monthly meeting Tuesday, real property values in the county will decrease for the second year in a row.
In 2010 property values decreased by approximately 12.5 percent, and are projected to decrease by approximately 10.9 percent in 2011, to values well below the 2004 values.
The aforementioned digest valued real property, after exemptions, at $347,003,449, representing a decrease of $44,297,794.
The BOA voted unanimously to approve the Preliminary Digest for the purpose of allowing the mailing out of 10,000 assessment notices with estimated tax bills based on last year’s millage rate. The goal date to mail these notices was set for yesterday, April 27. As usual, property owners will have 45 days in which to appeal these values.
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Also, after much discussion on a property exempt application by the Midway Independent Church in Shady Dale, the BOA voted unanimously to deny the application. The church claimed the piece of property on Hill Street, approximately five miles from the church in downtown Shady Dale, was used for religious purposes three times a year, however the BOA could find no evidence of any religious use of the property.
In other items on their agenda, the BOA took the following action:
•Unanimously approved 171 new homestead exemption applications, while denying five applications.
•Reported the receipt of 107 real property returns, in which property owners officially record what they think their property is worth, to be considered by the BOA.
•Unanimously approved a Freeport exemption for nine manufacturers in the county. This exemption is for certain types of inventory on hand at the end of the year, which was manufactured by these companies.
•Unanimously approved the Error and Release Forms in which the Fair Market Value was decreased in 10 cases for varying reasons, and increased in two cases.
•Unanimously approved Conservation Renewal Exemptions for Frankie Lee Jackson ETAL, Benton Gladesville, Cynthia Peters, Sandra J. Robles ETAL, Highway 11 Benton, Edward F. Rouze and Marsh R. Killian, Michael and Elaine Stone, Donald and Jacqulin Tyler, David Wilbanks, Key Bridges Holdings, Charles and Elizabeth Martin, Shelia Agers, Henry Cork LLLP, Kenneth and Sabrina Johnson, and James and Patsy Hyman.
•Unanimously approved Conservation Continuation Exemptions for Henry Cork LLLP, David Morrison ETAL, Tena H Williamson ETAL, Parrott Family Farm LLP, Benton ETAL (2), Michael J. Collins, James and Joan Brandenburg, the First National Bank of Griffin as Custodian for A. J. Welch, Ronald and John Jr. Foster, Wanda Spinks, Chadwick and Ana Spinks, Michelle and William Pettit, Dumas Family LP.
•Unanimously approved New Conservation Exemptions for Jennifer H. Brown, John E. Dumas, Sr., Newton Timber, Charlotte and Dan Strawn Jr., Judith Prudy, Leonard E. Weems, Tina H Williamson, and Allen and Lucinda Schrock.
•Unanimously approved Forest Land Exemption for Benton (3), Vaughn Farms LP, Back POU Benton Property, CBS Investments, Ott-Felton Holdings LLC, PCOS LLC, and Front POU Benton Property.
•Unanimously approved Preferential Exemption of Gary and Dixie Woodham.
Prior to adjournment, the BOA voted to cancel its regularly scheduled May 12 meeting, and scheduled a meeting for May 31 to officially close the digest. They also voted to meet on July 14, and get back to their schedule of meeting the second Thursday of each month.
