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Southaven mayor: county property reappraisal will force millage cut; full neutrality unlikely
Summary
Mayor Ford said DeSoto County must raise real-property assessments to at least 85% of market value, producing a roughly 31% jump from the county's prior 54% base and forcing the city to propose a millage reduction that likely will not leave every taxpayer revenue-neutral.
Mayor Ford told the Southaven Board of Aldermen that a state-directed reappraisal of real property in DeSoto County will require the county assessor to raise assessments to a minimum of 85% of market value, a change the mayor said will cause an approximate 31% increase from the county's prior 54% assessment level and require the city to consider a millage reduction.
The mayor said the reassessment applies only to real property and noted other tax bases''business personal property and motor-vehicle tag revenue''will not change under the reassessment, so a fully revenue-neutral outcome for every taxpayer is not possible. "Properties are supposed to be assessed for their real true market…
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