From the Richmond Palladium-Item:
Union County property tax bills are arriving in mailboxes and many property owners are seeing bills lower than last year’s.
The county’s assessed property values jumped by $23 million in 2012 for taxes payable in 2013, Auditor Gene Sanford said. Much of that increase came in farmland values, he said.
“The growth in assessed values drove down tax rates,” Sanford said. “It’s a good thing, because it moves us farther away from the property tax caps. Our rates last year were at about $1.98 per $100 assessed value. Now we’re in the mid $1.80s.”
Staying below the property tax caps means taxing units may collect most of their budgeted levy, instead of losing revenue on properties that exceed the caps.
Township tax rates in Union County vary from $1.85 per $100 assessed value in Union Township to $1.88 in Liberty and Harrison townships.
The tax rate for the town of Liberty is $3.53, while West College Corner has a rate of $2.59 per $100 assessed value.
http://www.pal-item.com/apps/pbcs.dll/article?AID=2013304010013
