County Appraisal Cycle Ends

A five-year appraisal cycle for property within Stone County ends this year, and during last week’s meeting, the Stone County Quorum Court heard a summary of the outcome and what that will mean for local taxpayers.

County Assessor Heather Stevens introduced appraisal managers Farrah Bailey and Josh Cantrell from Total Assessment Solutions Corporation, the company contracted for the work. Field work was conducted 2022-2025, with 14,530 taxable parcels involved, including residential, commercial, vacant and agricultural types.

During the appraisal cycle an appraised value of more than $90 million in new construction was added to the tax books, The overall increase in value during the past five years is 56 percent, Bailey and Cantrell reported. This will not mean that the tax bills of residents will go up by that amount, however. The state caps the increase of assessment at 5 percent on owner occupied real estate, and at 10 percent for all other real estate. Residents age 65 or older or disabled have assessments frozen. In addition, the Homestead Credit is now $675, which can alleviate the tax burden.

“We tried to be conservative, but it’s a big increase,” Cantrell said.

He noted that elsewhere in the state, and in the entire region, saw similar increases, up from the more typical 15-20 percent. He said his company has nine counties ending cycles this year, and one is at a 68 percent increase.

Property owners whose assessment increased will receive a notice this month. Through August, residents may question the determination and request corrections by calling the assessor’s office at 870-269-3524 or e-mailing stonecoassessor@yahoo.com. If objections remain, the issue may be brought before the Stone County Equalization Board August-September, and following that to County Court, if necessary.

By January-February, values are transmitted to the county collector to be collected March-October.
Taxes are calculated by taking 20 percent of the assessed value and multipying by the millage rate. The example given was for a property in the City of Mountain View appraised at $100,000 and a millage rate of 38.01 mills, the tax bill would be $760.20 before any homestead credit or other consideration is applied.

Reappraisal cycles are now four years, so the county will end its next cycle in 2030.
For more information from the assessor’s office, see related story inside this issue