Assessors Approve Initial Ratios for 2012

It’s the time of year when the Board of Assessors (BOA) office begins the initial process of determining the Fair Market Value of properties within the county for the purpose of taxation, based on 40 percent of the assessed value.

According to Chief Appraiser Lynn Bentley, at the BOA regular monthly meeting last Thursday, it will be a difficult task because there are no real trends in the county.

Within all types of property, there was a wide of spectrum of sales in 2011. Many sales were lower than the current valuations, however there were also sales higher than the current fair market value.

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Overall, there has been a decrease in the sales price of residential properties but rural sales are leveling out, which could reflect a shift in the tax burden. Additionally, the closure of two plants at Georgia Pacific could make an impact as well.

The accepted range of the sales ratio, which is the difference between sales price and current fair market value, acceptable by the state is 38.00 to 42.00. The only type of property coming close to this acceptable ratio is rural land sales which comes in at 42.58.

Residential sales are 46.90 compared to 45.52 last year. Turtle Cove interior lots at 53.73 and Turtle Cove lakefront at 49.13. Simply put, these numbers reflect sale prices of less than the current assessed fair market value.

This indicates most residential properties will again see decreases. However, most rural sales have been closer to the current fair market valuations.

The BOA has a regular meeting scheduled for April 12, at which time they will vote on new assessments, and hope to have notices in the mail by April 17.

They have also scheduled a called meeting on May 31 to close the digest because the Board of Commissioners (BOC) is scheduled to meet on June 4 to set the final millage rate.

If all goes as planned the 2012 tax bills will be sent out in July with 50-50 payments scheduled for September and December.

Other action taken by the BOA during meeting included the following:

• An update of the BOA Policy and Procedures Manual, which included new construction, field inspections, letter types, reports, conservation use, property transfers, policies, applications, appraisal procedures, etc., was approved unanimously.

• Future meeting dates were approved unanimously.

• The 2012 Forest Land Index was approved unanimously, which is used to calculate reimbursement from the state to the county on forest land. The amount of reimbursement last year came to approximately $200,000.

• The 2012 Homestead Act advertisement was approved unanimously.

• Voted unanimously to deny a property owner’s claim that property is in Putnam rather than Jasper County.

•Approved applications for conservation renewals for John, Katie, and Bonita Voyles (two separate properties), Betsy Short, Lynn Warren, Philip and Marian Proctor, Joheph Hodgson ETAL, Hal L. Lynch St. Trust Part One, Martha Moscardelli, Glen Bailey, and Barry C. Hooper.

•Approved New Conservation Applications for W. R. Hudgins, Bryans Cattle Company, Steven and Rita Norman.

•Approved Conservation Continuation Applications for: Jones Farm Hunting Preserve and Tree Farm, William and Cynthia Johnson, Laura Bates, Michael and Andrea Benton, James and Jessica Manning.

• The Error and Release Form was unanimously approved, which corrects Fair Market Values for varying reasons.