County’s Tax Base Gets Puny Bump

COFFEEVILLE – A hefty increase in the Yalobusha County’s total assessed value would appear to be good news as county officials prepare to begin work on the 2013-14 fiscal year budget, however the actual taxable value of the county did not match the growth.
    The total assessed value climbed 6.3 percent to 78,111,963 for the fiscal year that gets underway in October. That’s up from the assessed value of 73,588,910 in the current fiscal year.
    But the actual taxable value of the county grew less than one percent, from 54,805,675 in the 2012-2013 fiscal year to 55,326,463 for the coming fiscal year. This means one mill will generate $55,326 in the coming year, a $520 increase over last year. The increase will only add a little over $30,000 to the general fund budget.
    This actual taxable value is determined by taking the total value and subtracting homestead deductions (9,010,464) and industrial exemptions (13,775,036).
    Homestead deductions include exemptions for homeowners, residents 65 and older and disabled residents.
    Industrial exemptions are granted to industry in the county on a case-by-case basis for new investments, typically for a 10 year period.
    The numbers were included  during a report from Tax Assessor/Collector Linda Shuffield, who presented the 2013 tax rolls to supervisors during the “first Monday” meeting held in Coffeeville July 1.
    The veteran tax assessor explained that 2013 is an update year. She also reported that her office implemented new standards from the Mississippi Department of Revenue
    “We implemented this new manual and re-evaluated 12,311 parcels,” Shuffield explained.

Setting The Budget
    The tax assessor-collector’s visit to the Board of Supervisors meeting in Coffeeville was in compliance with state law regulating the tax procedures of county government. That process culminates each year during September when supervisors adopt a budget for the fiscal year, which begins October 1.
   Following the presentation by Shuffield, supervisors passed an order opening real and personal property rolls for inspection and examination by the public. Any objections to the assessments can be made in writing and filed with the clerk of the Board of Supervisors before July 31.
    The board will hear the written objections in Water Valley on August 5, at 9 a.m. and in Coffeeville on August 6 at 9 a.m.

WATER VALLEY–The county’s supervisors, justice court judges, prosecutor and tax assessor/collector will receive a raise in the coming fiscal year after the assessed value of the county surpassed 75,000,000 (see related story).
    Supervisors, justice court judges and the county prosecutor will see an increase from $33,700 annually to $34,700 annually,  based on Mississippi Code of 1972, Section 25-3-13.
    The increase for the base pay for the tax assessor/collector climbs from $48,500 to $52,500, based on Missis-sippi Code of 1972, 25-3-3.
    That same section also authorizes salary supplements that remain unchanged. The supplements include an additional $5,000 annually for a person serving as both the tax assessor and tax collector in their county, plus $3,500 annually in counties that have two judicial districts.
    Section 25-3-3 also grants an additional $1,500 annually for certification from the International Association of Assessing Officer; plus $6,500 annually for state certification  as a residential appraiser or licensed timberland appraiser or holding a valid designation from the International Association of Assessing Officers as a Cadastral Mapping Specia-list (CMS) or Personal Property Specialist (PPS) or Residential Evaluation Specialist (RES).
    A tax assessor can also make another $8,500 annually for holding valid designation of Certified Assessment Evaluator (CAE) from the International Association of Assessing Officers or is a state certified General Real Estate Appraiser (GA).