The City-wide reassessment process is nearing the final stages and is currently in a period of transition from data collection to value determination. The Covid-19 virus has slowed the property inspections but fortunately the background work was able to continue remotely. In the coming weeks Tyler Technology employees will complete inspections of the few remaining residential properties within the City. The collected data will continue to be merged with the valuation software for review and processing of values.
Due to the delay with inspections, we have had to make a difficult decision to move from a dual release of values to a single release. Originally, the plan was to release preliminary valuations, followed by the release of the official values after a brief period to allow for property owners to review the new values. The thought was to attempt to eliminate as many issues with the data as possible prior to the official grievance process. Unfortunately, due to the limited time remaining we are forced to eliminate the preliminary data release. The current plan is to release the official values in early April to be followed by the official grievance period. We will post a more detailed schedule as we get closer to April. The release of new values will be publicized on the City website, through social media, and via direct owner notification. We apologize for any inconvenience.
The new values will be publicized at the end of May. Property owners will then have a maximum of 14 days from the date of the official Change of Appraisal Notice to challenge the new values if they believe the value produced for their property is not a realistic representation of the current fair market value. Instructions for challenging the assessed values will be included with the change notices. It is important to indicate that tax implications are not part of the appeal process and holds no weight in appeals, only market value is relevant. Historically during a reassessment if the values increase overall, the corresponding tax rate will decrease.
The reassessment process can be a stressful event for any property owner. Please feel free to contact the Director of Assessment & Tax Collection with questions or concerns.