There has been a lot of buzz around the 2018 tax reassessment happening here in Lancaster County. Many people have heard that assessments have been increasing dramatically, and we’ve heard concerns about taxes sky-rocketing. We thought this would be a perfect time to give you some info on the reassessment happening, and what we know so far.
When will I know my home’s new assessed value?
Preliminary reassessment values have been established for much of Lancaster County already. You should have received a notice with your value in the mail. The assessment office will be at the Community Room in Park City Mall from March 13 through the 31st, from 10 am to 8 pm, should you have any question on your preliminary assessment value.
Final notices will be going out in June.
What if I disagree with the value?
After receiving your final assessment notice, dated June 1st, if you feel the assessed value is more or less than the current market value of your home, you have a right to an appeal. Appeal forms can be found on the tax assessors website and must be submitted to the assessment office within 40 days of receiving the final appeal notice.
Will my taxes increase?
Typically, home assessment values have been increasing across the county. This is because the assessment office is trying to change assessed values to be more in line with market values of a home, versus a percentage of value as has been done in the past. Because of this assessment increase, many are concerned about tax increases as well.
Part of the 2018 reassessment process is a change in municipality millage rates as well. The adjustment of millage rates, when applied to the new assessment values, will determine new tax rates. The end goal of the reassessment process is to keep taxes revenue neutral, meaning approximately the same. There is no easy way to know how and individual property’s taxes will be effected at this point. Generally, some taxes will remain about the same, while some will increase, and some will decrease.
More questions about the 2018 reassessment?
For more questions, to follow along as new information is released, or to view your property’s assessment information, view the Lancaster Tax Assessment website by clicking here.