Marion County Supervisor of Assessments Mark Miller has announced a ten percent property tax multiplier for bills that will be issued next year. The increase is the result of the continuing rise in home prices, with some homes selling $25,000 to $75,000 higher than what they were just last year.
Miller says he has no choice but to apply the multiplier to keep the level of assessments at the state required 33.33-percent of fair market value.
But he asks property owners to consider what happened last year when a 7-percent multiplier was applied. Miller says because all property assessments increased, there is likely to be very little change in real estate taxes. This is because as EAV increases, the tax rate decreases, resulting in little if any change in real estate taxes. Significant increases in property tax will only be seen if a taxing body dramatically increases its budget for the coming year.
Overall in 2022, Miller says tax districts held the line as much as they could and property taxes changed very little. Miller encourages owners to look at their most recent real estate tax bill which shows not only the current taxes, but also what taxes were the previous year. In most cases, you will see very little change and you can again expect minimal impact on your taxes with the ten percent multiplier unless taxing bodies require more funding for 2024.
Every four years, the Supervisor of Assessments is mandated to mail an assessment notice for every parcel in Marion County and publish every parcel in the newspaper along with the owner’s name and assessed value. Miller says that is what will take place this year. 35,342 notices are being mailed on Tuesday. Miller wants to stress that receiving a notice does not mean you will see a change in your assessment beyond the 10-percent multiplier which has already been applied to the value shown on your notice.
If other changes were made for your property, the ‘Reason for Change’ box will show what caused the change. It will also show your 2023 Fair Market Value. Considering the current real estate market, ask yourself if you would sell your home for this price or higher. If so, the only suggestion is to review the exemptions being applied, as well as mailing name and mailing address to insure they are correct.
Those wishing to come before the Board of Review to contest the valuation of their property may pick up a complaint packet at the Supervisor of Assessments Office in the Marion County Courthouse beginning November 21st. Forms must be returned to the Supervisor of Assessments Office by December 21st. Any form received after December 21st will not be accepted. For answers to any questions concerning the hearing process, please call (618) 548-3853 or stop by the Supervisor of Assessments Office in the Courthouse.
See the complete list of assessments below:
