Marion County Supervisor of Assessments Mark Miller told the Marion County Board Tuesday night that the first year of the TrueRoll Exemption Project has put nearly $10-million in market value back on the tax roll.
He says TrueRoll flagged 3,086 parcels as potential targets for exemption removal or addition.
“We found 594 parcels which needed to be corrected. They were getting exemptions they weren’t entitled to. With those 594 we were able to generate another $9,796,000 in market value. Which equates to in equalized assessed valuation which is 1/3 of that we were able to get back $3,265,000 of EAV.”
Miller says based on an average property tax rate of 9-percent, the findings will generate $294,000 in new potential property tax revenue.
“It either means that more money is generated for all the taxing bodies. Or if they don’t ask for more money it’s potentially going to allow the EAV to be larger and the tax rates to go down and people would pay less in property taxes.”
Miller told the county board the changes will potentially generate $33,000 in new property tax revenue for the county.
Miller paid for the $6,198 cost of the program through his GIS fund. He plans to keep the program and continue to review the exemptions yearly so they can keep the records accurate.
He says the program also identifies those who may not be getting exemptions they are entitled. Miller’s office will be notifying them of potential tax breaks available to them.
