(Red Oak) Montgomery County Assessor Sharon Dalton appearing in front of the Board of Supervisors, stated, “Everyone got a major shock when they opened their mail.” Dalton is referring to the steep rise in assessed valuations.
Dalton says the reasoning behind this is that property sales throughout the county and the state have been “out of this world.” Dalton says to comply with state law, the county needs to be, on average of its, sales between 95 and 105 percent, which is the ratio between the sale price and the county’s assessed value.
Dalton’s Office figures new replacement costs, subtracting the property’s age and condition depreciation.
Dalton says no property taxes can increase more than three percent in one year. The tax statements show an assessed value and a taxable value is the rollback. The new taxes will not take effect until the fall of 2024.
