Lower tax rates to prevent government revenue gain from higher property values

Local agencies will have to decide whether to increase the rate to increase tax intake

Hamilton County and its local municipalities all received a lower certified tax rate this month after a countywide reappraisal.

Hamilton County Assessor of Property Marty Haynes announced Friday that the 2021 countywide reappraisal of property values, which occurs every four years as required by state law, is complete.

According to a release by Haynes, all local governments in Hamilton County have a lower certified tax rate after the reappraisal.

“Following the conclusion of the 2021 Property Value Reappraisal, my office followed state law and submitted a new, lower certified property tax rate for all local governing bodies in Hamilton County,” Haynes said in a written statement. “A property value reappraisal must be revenue neutral for local governments — meaning local governments cannot use the reappraisal process to generate additional tax revenues unless it relates to new construction.”

Under state law, the Hamilton County Commission and local municipalities are required to accept the new lower certified property tax rate to maintain the same tax revenues prior to the reassessment.

Local governments are able to vote to increase the property tax rate to generate additional tax revenue.

“The decision to raise and lower property taxes is a decision made solely by the local governing body — not the assessor of property,” stated Haynes. “The assessor’s office is solely responsible for property values and setting new values based on recent property sales.”

The overall increase of the final property values countywide was 25% higher than in 2017, which Haynes called “unprecedented since reappraisals began in 1989.”

“I especially want to thank all of the employees in the Assessor’s Office for their hard work, tireless efforts and dedication to completing the reassessments done accurately and on schedule,” Haynes added. “No part of this reassessment was easy, but the professionalism and commitment to service my employees showed throughout this process is a testament to the state.” why this office is considered one of the best assessor of property offices in