Values for property within City of Linton to increase
Total valuations on residential and commercial property within the City of Linton have increased, and property owners should see a change in their property values when the Linton City Council holds its Tax Equalization meeting on April 9.
During the council’s regular meeting on Jan. 7, Linton City Assessor Shawna Paul told the council that she reviewed the value of all of the lots and properties within Linton, and she found that the value per square foot varies immensely.
Paul suggested making all of the properties uniform by evening out the cost per square foot on commercial and residential properties. Paul said the cost per square foot for residential property would be determined by where the property is located and what it can be used for.
Paul added that the value pertains exclusively to the land, and not the structures on the property, and property located in a flood way or flood plain will obviously be valued lower than other residential property. The council agreed with Paul and instructed her to reassess the properties within the City of Linton, and have her final assessment completed by the Tax Equalization meeting.
All of the properties have been reassessed, and residential properties are valued at 50 cents per square foot, while commercial properties are valued at $1 per square foot. Paul said there is a 10 percent discount on properties located in a flood plain, which would value them at 45 cents psf (residential) and 90 cents psf (commercial).
Paul said the total increase of property value within the City of Linton is about $950,000, and total property taxes (land only) will increase by $13,400, including $5,000 on residential property, and $8.400 on commercial property. The figures are based on the 2011 mill levy.
Paul said residential and commercial property owners can cehck the value of their property and visit with her about the changes at the Linton City Hall. Property owners have the right to protest the increases in valuation during the City’s Tax Equalization meeting, which will be held on Tuesday,April 9, at 5 p.m. at the City Hall.