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Thursday, May 5, 2016

New property adjustments may increase taxes for some

Thursday, July 24, 2008

A five-year property adjustment was recently completed and some Fulton County property owners may find bittersweet results with numbers showing higher property values but also higher property taxes.

"We just finished up a five year reappraisal in the county and by law we have to adjust everything to market value," Dewayne Mack, president of Mack-Reynolds Appraisal Company, said.

"If an individual's property value has increased, all we have to do is send out a notice of 'change of assessment' and that is what we just got through doing. We mailed out approximately 25,000 of the change of assessments," Mack said.

Public response has been mild, Mack reported from the Fulton County Assessor's Office where he has been answering questions.

"We have been taking phone calls since last week explaining to people what their changes are and it has been going really smooth," Mack said.

"Most people are calling in just wanting to know what the change is. With the $350 homestead exemption on their principle place of residence and the first acre, lot or whatever they are setting on, their taxes are not going up much at all," Mack said.

By law, the increase in an individual's property taxes can only be raised 5 percent a year.

"What the law says is, if you have a house worth $100,000 and we have increased it to $150,000, the tax can only increase by 5 percent. The tax the next year would be based on $105,000. Then the following year it would go to $110,000. It goes up in increments of 5 percent," Mack said.

The newly assessed values have been carefully monitored for accuracy, according to Mack.

"It is all driven by the market. We don't just pull figures out of the air. We have a pricing schedule that is built into the computer we use and then we take and do an analysis of what the market is actually doing to bring that value up or down. We get pretty close to market value," Mack said.

Market value is the most probable price that a person would pay for a piece of property, he said.

"We look at several sales. Just because someone pays a specific price for something doesn't mean that is the market value. It has to be a trend of what is going on, basically an average of what stuff is selling for," Mack said.

Regardless of the increase in the value of an individual's property, if they're senior citizens they receive an increase exemption.

"If you are 65 and older it is frozen. The taxes can't go up on the principle place of residence and that first acre. If an individual turns 65 in the middle of the year, it won't go into effect the following year. If you're disabled it is frozen also," Mack said.

The properties in the county were not higher across the board, some property values have dropped due to various circumstances, Mack said.

"There might be something like a house that has become dilapidated or burnt. We will adjust that to what the market should be," he said.

The new assessment will bring equality to property across Fulton County, keeping owners paying taxes on the same level as similarly assessed properties.

"The best thing about this is getting equity in the assessment field. We are trying to make sure that if I have a house worth $100,000 and another individual has a house worth $100,000, we should be paying the same amount of taxes. That is all that this is about," Mack said.

Whether the value of a property increased or not, the children of the county receive a large portion of the taxes paid, Mack said.

"Schools get 80 percent of the money anyway. So, it is good for the schools. A lot of times when we scan the whole county we pick up new buildings, new houses and things like that. It brings more money into the schools," Mack said.

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Dear Dewayne Mack, president of Mack-Reynolds Appraisal Company,

Figures lie,and liar's figure,or so I've been told.

You and your private company have just dropped the most substantial tax increase our little county has had in the last 100 years and you say it has had little response from the taxpayer's. Like hell!

So, when the family farms that you valued at 4 times their worth are sold on the courthouse steps next year, are you going to help us? I didn't think so

In case you didn't notice,we are one of the poorest counties in the state. Most people here have to commute to work,because we have very few jobs here.

Many are having to choose between fuel and food for our families at this point. Now we have worry about paying taxes at double the rate or losing our homes.

Shame on you. Shame on your "private" company that's doing this. There is nothing fair and equal about it.

"Whether the value of a property increased or not, the children of the county receive a large portion of the taxes paid, Mack said". I call BS.

Tell the truth,most of the money being raised is going to pay for you and your "private" assessment company.

By the way,who pays for:

(1)The $4:00 a gallon gas that you use to drive back and forth in your extended cab gas burner 40 times a day? How much a week are we paying you for fuel and mileage a week?

(2)Who is paying for your motel bill or are driving back home every day? If we are,how much a week?

(3)Who is paying your expenses while you are here? I would like to see a itemized list of what you have been paid printed in the newspaper.

Let me guess. The reassessment will just happen to pay your private companies expenses. But don't worry,you'll be back next year for more.

I thought we had a county assessor. If not,lets just take that $30,000 and use it for reassessment fees. Shame on you.Shame on our county government for letting this happen....

Complain now to your county and state official's before it's to late. It may be your home or your neighbors on the courthouse steps next year.

-- Posted by Fulton County Boy on Fri, Jul 25, 2008, at 3:01 AM

Dear Dewayne Mack, president of Mack-Reynolds Appraisal Company,

You are talking out the side of your mouth.

We moved here to invest due to the low tax rate.

Taxes might go up 5% for home owners, but for folk like me who own other properties beside a home the increase will be much greater.

Just tell the whole truth. The kind of omission you make is paramount to a lie.

-- Posted by axebite on Fri, Jul 25, 2008, at 10:44 AM

Mr. DEWAYNE MACK and company:

It seems you and your company have already been gotten into trouble for inflating and falsifying property values before. Imagine that!!

Remember the Clark County scandal you were involved in for falsifying property values?



ASSESSMENT COORDINATION DEPARTMENT VS Mack-Reynolds Appraisal Co. Case #04-003

Would that help you remember?

Or how about this?

"The ACD sent auditors to Clark County and

conducted a follow up investigation that confirmed that sales chasing had occurred and

that reappraisal results(made by Mack-Reynolds Appraisal Co) were, therefore, unreliable and unusable"

And just how many "contributions" have you made to local and state officials to get these contracts?

(Mack-Reynolds Appraisal Co/Real Est), ... DEWAYNE MACK (APPRAISER), (Zip code: 71943) $1300 to DEMOCRATIC PARTY OF ARKANSAS FEDERAL ...

Let me guess,you have some real good friends who just happen to buy property once it goes up at the tax sale?

-- Posted by Fulton County Boy on Fri, Jul 25, 2008, at 12:09 PM

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