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Committee hears overview of appraisal, mill levy and taxpayer appeals process
Summary
Committee received a technical briefing on how mill levies are calculated, the timeline and limits of taxpayer appeals and whether the state can remove a county appraiser; Department of Revenue counsel outlined statutory appeal rights to the Board of Tax Appeals.
Bob, a presenter to the committee, gave a technical overview of how a mill levy is developed and described the taxpayer appeal timeline for property valuations. He told the committee that a mill levy has two components—the budget and the assessed value—and illustrated the calculation with an example: “If we have a $50,000,000 budget and we have a $400,000,000 assessed value … the calculation would be 1.25. And if we convert that into mils … we would get 125 mils.”
Bob summarized the informal appeal process and statutory deadlines. He said valuation notices are sent statutorily by March 1 and that “any taxpayer can appeal the… county appraisal to the county appraiser within 30 days…
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