Property assessments almost finished, officials say

Monday, May 7, 2007

Area property owners should begin receiving their new assessments soon, with notices in Scott County in the mail and notices from Cape Girardeau County due out next week.

In Scott County, real estate values show a modest increase in value over the last two years, according to county assessor Teresa Houchin.

Scott County property values for the 2006-2007 assessment cycle generally rose 2 to 5 percent increase over its assessed value two years ago, Houchin said Monday. No values rose more than 5 percent, Houchin said.

In Cape Girardeau County, the increase was somewhat larger, assessor Jerry Reynoldcs said, with an average increase from 7 to 8 percent and some homes increasing over 10 percent.

Reynolds said he wasn't aware of any properties that have increased by 15 percent, the level that would trigger an on-site visit from appraisers.

Houchin said an increase of 4 to 8 percent is desirable, one that shows an increase in the county's property values but doesn't increase property taxes by a large amount.

When values increase by more than inflation, tax rates must be adjusted downward to cushion the effect of the higher values.

Houchin said her office has sent out notices to property owners stating their property value. Reynolds said his notices, to property owners who saw an increase in assessed value of more than $500, will go out by the end of next week.

Anyone who questions the new values can go through an informal process or appeal to the county Board of Equalization for an adjustment.

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