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Got a question? Try Ask the MMA Must cities and towns wait until October to hold a hearing on introducing a split tax rate?
Q: Must cities and towns wait until October before holding a hearing on introducing a split tax rate?
A: Cities and towns typically complete the preliminary work leading up to a tax rate classification hearing at the end of September or early October, but there is no law prohibiting tax classification hearings before October, according to the Division of Local Services. A city or town can hold the hearing once local property valuations for the year have been finalized, other assessment obligations are fulfilled, and state approvals are received.
Accomplishing all these steps before October can be difficult, however. While municipalities are required to conduct a revaluation only every third year, assessors are expected to review valuations every year and make adjustments when necessary. This process, according to the Division of Local Services, typically lasts throughout the summer and into early fall.
Got a question? Try Ask the MMA Must cities and towns wait until October to hold a hearing on introducing a split tax rate?
Must cities and towns wait until October to hold a hearing on introducing a split tax rate?
Q: Must cities and towns wait until October before holding a hearing on introducing a split tax rate?
A: Cities and towns typically complete the preliminary work leading up to a tax rate classification hearing at the end of September or early October, but there is no law prohibiting tax classification hearings before October, according to the Division of Local Services. A city or town can hold the hearing once local property valuations for the year have been finalized, other assessment obligations are fulfilled, and state approvals are received.
Accomplishing all these steps before October can be difficult, however. While municipalities are required to conduct a revaluation only every third year, assessors are expected to review valuations every year and make adjustments when necessary. This process, according to the Division of Local Services, typically lasts throughout the summer and into early fall.
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