I just received my Boone County change of assessment notice. The assessed valuation of my property dropped by 10.52%. Since I have no plans to sell my home this should be good news when the next tax bill arrives, right? Nope, not so fast.
As was pointed out clearly in an article by Ted Biondo that I posted here a few months ago, the structure is set in such a way the taxing bodies are allowed to raise the levies to offset the decline in property values. Our homes are worth less but they still get at least the same revenue as last year, possibly more. The system is rigged.
Is this fair? You decide when your tax bills arrive next spring. The taxing bodies say they are hurting and strapped for cash. They need to see what it is like for those who have lost their jobs or are living on social security. That, folks, would be a reality check.
Ken Dillenburg