Property reappraisal has been a hot topic for the past few years.
Code of Alabama, states that ad valorem taxes should be based on the fair market value of all property on the last preceding October, therefore, annual reappraisals and levied taxes have been conducted for the past 13 years.
Opponents claim that annual reappraisals will double their annual taxes, if we allow this process to continue.
Yet the fact is, in the past 13 years the average increase in property taxes has ranged from only 3.5 percent to 6.5 percent.
The tax that you will pay is not solely based on the appraisal itself, but also the millage rate or tax rate which you as taxpayers vote on.
Annual reappraisals keep a more current appraisal of what your property is worth.
Also, property tax revenue supports the educational system, police and fire departments, and road and bridge system.
According to Tommie Miller, chief appraiser for Montgomery County, "A 4 or 5 year appraisal cycle will create a 30-35 percent taxing disparity between rapidly appreciating properties and properties that are stagnate or declining in value.
This results in taxpayers paying taxes according to an inflated value".