Article by Steve Corlew-
The Henderson County Board of Equalization will hear appeals on the recent property assessments June 5th through the 16th.
The 2023 property assessments caught many off-guard as property values rose dramatically.
Property tax rates will be established by a county equalization board and adopted by the county commission and each of the county’s municipalities that collect property tax.
Property rates will have to be lowered once the new assessments have been adopted. State laws require the rate to be adjusted accordingly, so property owners are not unfairly taxed.
To increase revenue, the county commission or the city boards will have to hold public hearings and vote on such an increase.
Currently property assessment records are…
For complete coverage, see the May 24th edition of The Lexington Progress.