Wednesday, December 14, 2011

Revalution Info (property re-assessment)

Please check out this very good NHI article and great video explanation by my colleague Justin Elicker (10-D).  Please call or email me with any additional questions.

The Mayor's presentation is available here. Also, the City is sending out a second letter (12/14) with additional information.

Two letters will be coming from the city with information on your new assessment.  Or, you can visit Vision Appraisal's website to look up your property.

The formal Assessment Appeals process begins Feb 1st.  Check back for more info or call Alderman Marchand!

Remember,  your property's assessment is only a piece (I do appreciate it's a significant piece to us property owners!) of the city's tax base, and one of many, many pieces (revenue side and spending side) of the huge puzzle that results in the property tax you will pay in 2012.  You have opportunity to correct and/or appeal your assessment.  You also have time to talk to your Alderman and participate in the public collaboration and debate as the 2012-13 budget is created, tweaked, changed, vetted, and approved.  The Mayor (by Charter) submits his proposed budget by March 1st (usually no sooner).  Then the BOA hold public hearings, do their oversight and then ratify the budget which then sets the property tax rate (mill rate) for FY12-13 beginning July 1, 2012.