On values determined as of January 1, one does not start to pay taxes until 18 months later.

The "roll back" is the percentage of actual value that is determined by the Director of Revenue and Finance each year on the several classes of property where the total value increase statewide exceeds four percent for each class of property. The percentage so determined by the Director of Revenue and Finance is certified to and applied by the local county auditor to all property in each class affected throughout the state.

Percentages determined by the Director of Revenue and Finance are the same for all the assessing jurisdictions in the state.

Increases in assessed value of individual parcels of property, as determined by the Assessor, may exceed four percent within a jurisdiction.

Agricultural property, except agricultural dwellings, are assessed on the basis of productivity and net earning capacity using a five-year crop average and capitalized at a rate set by the Legislature. The rate is currently seven percent. Tentative and final equalization orders are issued by the Director of Revenue and Finance in odd-numbered years on or about August 15 and October 1 respectively. The orders are sent to the various county auditors, who apply them to the classes of property affected (if any).

Assessors and members of the Board of Review are appointed to their terms of office. Assessors, in addition to completing the required 150 hours of Continuing Education, must be approved by a majority vote of the Conference Board in order to be reappointed.

If you desire further information or have questions concerning property values, please address your concerns to the Assessor's office in the appropriate jurisdiction and not the Board of Supervisors or Treasurer.

Questions relating to taxes should be addressed to the local Treasurer's office