When DeKalb Countians get their new 2015 property tax notices they will see a new look and a new format.
According to Trustee Sean Driver, the new notices will be black and gold to reflect DCHS team colors. "Since this is Tiger Country, I thought it would be fitting to use Black and Gold on the new 2015 Property Tax Notices," Driver said.
"This change on new property tax notices has been implemented through the State of Tennessee," Driver continued. "The State of Tennessee developed a new Computer Assisted Mass Appraisal System called IMPACT through most of the state’s Property Assessor’s offices. The new system prints property tax notices on an 8 ½ X 11 sheet of paper that will be mailed to property owners this 2015 Tax Year. The Trustee’s office is responsible for the design of the new property tax notices and we hope you approve. So, no more postcard-type property notices will be mailed."
The trustee said that while new property notices will contain most of the same information that they have in the past, they will also convey much more information than the older notices. "Of course, you will be able to see when the taxes are due, 10-1-15 through 02-29-16 (2016 will be a leap year), the Trustee’s mailing address, the office hours and the amount of your taxes," he said.
"The new information is what’s exciting to us in the Trustee’s office and we hope you again will approve," Driver shared. "This year you can see all of the payment options we have available in the office. For 2015 you can:
1. Come in person to pay at the office,
2. Mail in your payment.
3. Pay online at tennesseetrustee.com, then select DeKalb—Our Vendor accepts Discover, MasterCard, Visa, or American Express—A Vendor convenience fee of 2.75 percent on the total tax bill may apply and fees are subject to change for using credit/debit cards. Also, a $2.75 fee will be assessed on an e-check payment of any amount.
4. We have a Dropbox located on the outside of the building for your convenience after hours or on weekends.
5. We do accept and offer Partial Payments and you the taxpayer sets the amount to pay. Partial payments were implemented in 2012.
Next, you will see a complete breakdown of the appraisal values concerning your property. These values are how your tax amounts are figured. Many have askedme, "How can I figure my property tax bill?" Property taxes in DeKalb County are calculated utilizing the following four components:
1. Total Appraised Value = Land & Improvement Values
2. Assessment Ratio
3. Assessed Value
4. Tax Rate
1. The Total Appraised Value will be the dollar amount of the land plus any structures (improvements) that may exist on your property.
2. The Assessment Ratio is established for the different classes of property as follows: 25%-Residential and Farm, 30%-Personal Property through a Business, and 40%-Commercial/Industrial.
3. The Assessment Value is calculated by multiplying the Total Appraised Value by the Assessment Ratio.
4. The Tax Rate for each county is set by the county commission based on the amount of monies budgeted to fund the provided sevices.
For example, looking at your tax bill, you will see land value based at $15,000 and improvement value based at $115,000. Add the two values together to get $130,000. This amount is the Total Appraised Value. Since all residential homes are based at 25 percent Assessment Ratio, take $130,000 and multiply by 25 percent. Your new Assessment Value will be $32,500. Take this amount and multiply by the County Tax Rate (1.78 percent of @$100 Assessment Value). This amount will be the amount of property taxes you will pay rounded to the nearest dollar ($579.00) ($15,000 + $115,000 = $130,000 - 25% x $130,000 = $32,500 - $32,000 x 1.78% = $579.00 tax amount to be paid)."
Driver also said the notices will include information about where your property tax money goes. "On the back of the new property tax notice, it has some additional information showing a pie chart of where the 2015 taxes are levied. For example:
•General Purpose Schools - 57 cents.
•County General - 94 cents.
•Debt Service - 12 cents
•General Capital Projects – 11 cents
•Highway/Public Works – four cents
The Property Tax Base for 2015, in DeKalb County, will be over $8,500,000," he informed.
"Last, but not least, you will be able to see some new information about the Tennessee State Tax Relief Program," Driver said. "This program was implemented in 1973, and the program will have a few changes every year. So, for the 2015 tax year, you can qualify for tax relief if:
a.)Your DeKalb County home is your primary residence,
b.)You are 65 years old (or older) as of December 31, 2015, or you are totally and permanently disabled as rated by the SSA or another qualifying agency, and
c.)Your 2014 annual income of all persons on the deed and their spouses did not exceed $28,690.00. If the State of Tennessee qualifies you for Tax Relief, then you can receive a rebate up to $106.00," said the trustee.
"Also new for 2015 tax relief are the requirements for disabled veterans. Eligibility for new applicants this year will include an income limit. Combined 2014 annual income for you, your spouse and all other owners of the property cannot exceed $60,000. It is important for disabled veterans and qualified widow(er)s to note that applicants currently on the Tax Relief Program will not have an income limit. The trustee’s office will start accepting applications for tax relief on October 1, 2015 and continue through April 5, 2016. If you would like to inquire more about a possible tax relief, come by trustee’s office in the County Complex at 732 S. Congress Boulevard-Room 103, or call us at 615-597-5176. Let us know what you think about the new property tax notices," Driver concluded.