St. Paul Town Council recently received a presentation from Accurate Assessment that displayed an eight percent growth from 2013 to 2014 in residential properties. Non-residential assessments decreased by one per cent, partially due to last year’s assessment numbers being too high.
Property assessments are used by multiplying the town’s set mill rate to determine how much taxes a property owner will pay. When the assessments increase, in most cases, so do the taxes. Some property owners were upset with last year’s assessments done by the same company and believed that they put too high a value on many properties.
It wasn’t just residential property owners who voiced their concerns over the assessments, business owners did as well, which prompted an open house forum to be set. The town will host the open house in June, though no specific date has been set, to allow property owners a chance to ask questions and voice concerns directly to Accurate Assessment.
Accurate Assessments since they assessed the values of properties two years in a row they can now put St. Paul on a four-year cycle.