Regional and area managers from the Department of Revenue Property Assessment division met this week with city and county officials to discuss the 2015 reappraisal process and how it will affect county property taxes.
The reappraisal shows an increase in market value for Fallon County at approximately 28 percent with commercial and residential properties having the largest increase.
The figure property owners need to be most aware of is the increase in taxable value which is 6 percent county-wide. Taxable value on ag land is down 6 percent, commercial property is up 15 percent, and residential property up 23 percent.
Senate Bill 157 changed the taxable rate and changed the reassessment to every two years instead of every six years.
Assessment notices will be mailed out mid-June and a public meeting will be held in early July to help property owners understand their assessment notice and how it will affect their taxes. All taxpayers are encouraged to attend the meeting.