The Indiana Department of Local Government Finance certified Jackson County’s 2017 budget order and tax rates Feb. 12, paving the way for on-time property tax bills.
The certification puts the county in a position to have taxes due May 10 and allows local governments to better plan for operations for the year based on the approved budget and anticipated revenue figures, according to a news release from Courtney L. Schaffsma, commissioner of the department.
The certification also sets the stage for on-time property tax bills, which is important for the predictable administration of the property tax system, she said.
The first step in the assessment to tax billing process is the completion of the property assessments, which culminates with the submission of a ratio study.
A ratio study is a comparison between property sales prices and assessed values in the county to ensure that market values are being used to determine assessed values. Typically, these should be submitted to the state and approved by May 1, the year prior to tax billing. Jackson County’s ratio study was submitted March 4, 2016.
Once the state approves the ratio study, the assessor sends the gross assessed values to the county auditor, who applies exemptions, deductions or abatements to determine the net assessed values, the values upon which tax rates are based. That information was statutorily due to the state by Aug. 1, 2016. Jackson County’s certified net assessed values were submitted Oct. 27, 2016.
The county auditor can now calculate tax bills, which the county treasurer should mail to taxpayers no later than April 19.
A copy of the Jackson County budget is available at in.gov/dlgf/2587.htm?WT.cg_n=reportslinks&WT.cg_s=jacksoncounty.