In recent years, trending and reassessment issues throughout the state has forced the first billing due date (May 10) to be either pushed back or combined with the November due date.
However, the Clay County Auditor's Office believes it is currently on the right pace to get the bills out on time.
"Right now, we are on track for normal collection," Clay County Auditor Mary Jo Alumbaugh told The Brazil Times. "The Department of Local Government Finance (DLGF) has mandated that there is to be no late collection this year. However, with the state providing the trending values late, they may provide an extra cushion if it is needed."
Alumbaugh said her office should finish recording the assessed values to be sent to the state by the end of the week.
"We are currently working on the Tax Increment Financing (TIF) districts, which are typically the last portion we look at," she said. "The newest district is for the proposed detention pond, which is a huge undertaking because it is a large area."
Once the state approves the assessed values, which may take up to six weeks, the county will receive the certified tax rates for each district and the Auditor's Office will put together an abstract, which is also sent to the state for approval.
"The abstract takes a few days to put together, as long as the values are approved," Alumbaugh said. "It will be a little more complicated this year though with the additional Supplemental Standard Deduction that has been put in."
She said the Homestead Standard Deduction has also been changed slightly to be either $45,000, or 60 percent of the home's assessed value, whichever is less. The Supplemental Standard Deduction will also reduce the net taxable value another 35 percent on gross values of $600,000 or less, and 25 percent for those higher than that cutoff.
"If a home has a gross assessed value of $100,000, the Homestead Deduction will cut that down to $55,000," Alumbaugh said. "Then, the Supplemental Deduction would take 35 percent off that $55,000, leaving a net taxable assessed value of $35,750 in which the tax bills would be based on."
Alumbaugh emphasized the Supplemental Standard Deduction will be received only by those who have the Homestead Deduction. The deadline to apply for the Homestead Deduction on the 2008 pay 2009 property tax bills was Dec. 31, 2008.
"Normally the deadline was in May of the previous year, but the state changed it to Dec. 31 of the year before bills go out," she said. "As it stands right now, things are looking good for us to have our normal collection dates."