Higher property values don’t mean higher taxes

Many of you received a notice in the mail Saturday about the new assessed value of your property. This is the result of a state-mandated reappraisal process that takes place every six years.

The value of any property anywhere is determined by comparing it to the sale prices of similar properties nearby.

The market, and what people are willing to pay, can make property values go up or down.In Lawrence County and across this region, the real estate market is booming and people are paying higher prices for properties.

That’s why most of you saw a significant increase in the newest reappraisal, compared to the last valuation in 2016.Many of you are worried that this new value will make your property tax bill go up accordingly.

That is not true. Following reappraisals, the state provides the county a new certified tax rate, a recommendation that is lower than the current rate and offsets increased property values.

Commissioners will use that recommendation to set a new property tax rate as soon as possible.I can assure you the County Commission is committed to setting a tax rate that will not take advantage of these higher property values.