Property tax re-evaluations are good news

Published 10:16 am Wednesday, January 12, 2011

Property tax re-evaluations are often looked at somewhat as a double edged sword.

On the one hand re-assessing the values in Ironton can increase the net worth of individual property which is a good thing in terms of assets and value.

On the other hand these assessments also cost taxpayers a little bit more money each year.

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Overall, tax payers should look at this as a positive because it accurately creates a marketplace for buying and selling homes and property.

This is important for any community to grow.

The Lawrence County Auditor’s office is completing its portion of this work and awaiting final approval by the state treasurer.

Once this is completed tax bills will be mailed to citizens.

Hopefully property owners will place the needed priority on these bills and pay their taxes in a timely manner. It seems far too many taxpayers drag their feet or treat paying their property taxes as something that they will only do when they absolutely have to.

This hurts our communities and hurts our schools because most local property tax dollars go to the local school districts.

Since the values are being re-assessed, that means these taxes may go up a little bit.

But it also means that land and houses are worth more, increasing the value of everyone’s property.