Watch your mailbox for Truth in Taxation notices
Each November property owners receive a Notice of Proposed Taxes or Truth in Taxation (TNT) [PDF] from Scott County. These notices are essentially preliminary 2018 tax statements. They utilize a property’s Jan. 1, 2017, value and the 2018 preliminary levies from all applicable taxing jurisdictions to calculate a property’s projected 2018 taxes.
TNT notices also provide information as to when and where property owners can discuss the proposed budget and levy. For the city, this opportunity will be during a public budget meeting at 7 p.m. Dec. 5 at City Hall, 485 Gorman St.
Property owners often interpret this TNT notice as an opportunity to discuss the valuation of their property. Unfortunately, the time to discuss the 2017 valuation for taxes payable 2018 was this past spring. Every year in March, the county sends out Notices of Valuation and Classification. These notices provide the value from which the following year’s taxes will be calculated. For instance, the Valuation and Classification Notice received in spring 2017 is used to calculate the taxes payable in 2018.
Questions regarding your properties value or classification should be directed to the Scott County Assessor’s office.