Daiber releases property tax reform plan

https://ift.tt/2BLYpuz

Bob Daiber, Democratic candidate for Madison County Board chairman, released his plan to achieve real property tax reform for Madison County property owners. The cornerstone of Daiber’s plan is to reform the property tax assessment procedure.

“Like thousands of other property owners in Madison County, my property taxes increased yet again this year,” Daiber said. “It is time for real property tax reform to take place, not just lip service that sounds good in a political campaign.”

“The current assessment system is somewhat unfair and confusing,” Daiber stated. “Taxpayers are working harder and harder to make ends meet and simply cannot afford property tax increases at this current rate, particularly during a global health pandemic that has damaged our economy.”

“That’s why I’m proposing a three-step plan to achieve tangible reform and relief for taxpayers,” continued Daiber.

Bob Daiber’s plan to achieve property tax reform and relief includes the following:

Step 1 – Upon taking office as County Board chair, Daiber will introduce, and urge the County Board to adopt, a resolution to freeze all property tax assessments for one year. Only those parcels that are issued building permits or receive zoning changes would be subject to new assessments;

Step 2 – Establishment of a bipartisan committee to develop an intra-township assessment procedure by regional subdivision areas to create a more fair and transparent assessment process for property owners;

Step 3 – Initiation of legislation to amend the farmland assessment valuation process to place limitations on the percentage of increased assessed valuation on an annual basis.

To illustrate the impact of increased assessments, Daiber noted that Madison County lowered the levy on the general fund from .25 to .20 but collected $11,436,540 in additional property tax revenue from FY 18 ($426,287,667) to FY19 ($437,724,207) according to the tax report of the County Treasurer’s office.

“The property tax assessment on my wife and I’s home increased this year by $6,700, resulting in the taxable value of our property increasing by $8,190,” Daiber said. “That means that as homeowners, my wife and I will pay additional taxes on $8,190 this year and every year to come until the assessment process is reformed. Property value changes of such magnitude should only occur if a building permit was issued for a parcel and if structural changes were made.”

“This change in assessed value resulted in a property tax increase of $800 for my wife and I’s home, and many homeowners saw even larger increases,” Daiber continued. “Not only did the taxes on our home increase, but we experienced increases on every parcel of property we own.”

“I encourage everyone to compare the increase in the fair market value of their property from 2018 to 2019 and the increase in their taxable value on their tax bills,” Daiber said. “Residents should also closely review their ‘Notice on Assessed Value Change for 2020’ they will receive in the coming weeks from Madison County.”

Daiber further called attention to the warning on every property tax bill not to overpay.

“Let’s just get it right from the start,” Daiber concluded. “People should not have to protest their taxes.”

Follow AdVantage on Facebook and Twitter

26-Delivered

via AdVantage

July 31, 2020 at 09:30PM

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s