Owner questions steep valuation rise; referees point to floodplain adjustments and equalization
Joan Penning, a homeowner in a flood-prone area, questioned a multiple-fold valuation increase; referees said floodway/floodplain reductions (40–75%) were applied consistently and that taxes depend on taxing authorities' levies, not directly on assessed value.
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Joan Penning told the board she purchased her 127-year-old house for a small amount and has worked to make it livable; she said she was surprised to see assessments rise sharply. "You guys are evaluating this home at 3 times the amount as last year," Penning said, adding that she worries about paying higher taxes even after filing for homestead exemption.
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