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Contrary to what some in the community believe, residents with frozen property tax assessments will have higher tax rates if any of propositions two through five are approved, County Assessor Troyce King said.
“On the senior freeze, just the assessment is frozen. If that tax rate changes, which it will on those bond issues ... the millage will go up. So, yeah, their taxes will go up too,” King said. “Only the assessent is frozen.”
The frozen tax assessment for residents ages 65 and older that have an income under $49,900 a year have a frozen property tax assessment. However, if any proposotions two through five are approved during the Feb. 14 election, the millage for all Shawnee residents will increase. This would cause the property taxes to increase as well.
The assessment freeze for property owners 65 and older has been a law since the late 90s, King said. The income requirements change every year, based on the median income.
The freeze prohibits the property value from being increased, but the propsitions, if approved would change the millage rate, which would change the tax amount.
“When the millage changes, goes up or down, the tax amount changes,” King Said.
Contrary to what some in the community believe, residents with frozen property tax assessments will have higher tax rates if any of propositions two through five are approved, County Assessor Troyce King said.
“On the senior freeze, just the assessment is frozen. If that tax rate changes, which it will on those bond issues ... the millage will go up. So, yeah, their taxes will go up too,” King said. “Only the assessent is frozen.”
The frozen tax assessment for residents ages 65 and older that have an income under $49,900 a year have a frozen property tax assessment. However, if any proposotions two through five are approved during the Feb. 14 election, the millage for all Shawnee residents will increase. This would cause the property taxes to increase as well.
The assessment freeze for property owners 65 and older has been a law since the late 90s, King said. The income requirements change every year, based on the median income.
The freeze prohibits the property value from being increased, but the propsitions, if approved would change the millage rate, which would change the tax amount.
“When the millage changes, goes up or down, the tax amount changes,” King Said.
