Residential Re-Appraisal Information
The Montgomery County Assessor’s office is currently performing a complete county-wide residential re-appraisal. The purpose of the reappraisal program is to equalize property assessments so that each taxpayer is responsible for paying only his/her fair share of the property tax burden. Periodic inspections and reappraisal of properties is necessary as all types of properties do not increase or decrease in value at the same rate. Some properties physically deteriorate faster than others, and in many instances similar buildings located in different areas of the county will differ greatly in value due to economic factors.
Data collectors with photo ID will make interior and exterior inspections of all residential properties including agricultural dwellings. They will be compiling information to be used to estimate the fair market value of each property. Information to be collected includes type of construction, type of interior finish, physical condition of the property, age of structures and exterior measurements. A complete sales analysis, local construction costs and economic conditions are also considered. No estimate of value will be given at the time of inspection. Property owners are asked to cooperate by allowing a complete inspection of their property and providing accurate information so that a fair and equitable assessment may be determined for each property.
The project is scheduled for completion December 31, 2014. Notice of final value estimates will be mailed to each property owner after January 1, 2015. The property owners will have an opportunity to meet informally to discuss their revaluation in the spring of 2015. The new assessed values will be effective for January 1, 2015, for taxes payable in fiscal 2016-2017.
Representatives of Vanguard Appraisals, Inc. in conjunction with the Montgomery County Assessor’s Office will be conducting this project. All law enforcement agencies as well as the Montgomery County Assessor’s Office will be apprised of the areas where data collectors are working. Work will start in the City of Red Oak this month. They will also have a listing of all names and license plate numbers of anyone involved in the project.
If any property owner has questions regarding the reappraisal project, they are urged to contact the Montgomery County Assessor’s Office at (712)623-4171.