Taxpayer confusion addressed

Fannin County officials are urging taxpayers not to be alarmed by the recent property assessment notices they have received. Many of these notices reflect a substantial increase in assessed value. Values are driven by building costs and sale prices within the market. Re-assessments are required under state law. If the county does not complete the re-assessments, state officials will step in.

The assessments also include an estimated property tax. Here again, officials of both the county commission and board of education urge taxpayers to not be alarmed. These are only estimates.

The millage rate has not been set by either the county or school board and won’t be until the tax digest is approved by the state. When this if finalized, officials of both the county and school board are anticipating adopting rollback millage rates. This would keep the net property taxes due similar to the previous tax year.

Both government bodies are expected to discuss the situation further at their regular meetings this week.

Read the August 17 issue of The News Observer for complete details.