Just a few days ago on a Franklin Facebook page Mayor Olson waged in on a rather intense discussion about the reassessments Franklin property owners received in the mail. From the page:
Re-assessment does not necissarily mean an increase in taxes.
He actually wrote that?
Yes he did.
No, not exactly.
Technically the mayor is right.
But it’s still a LOL moment.
A colleague of mine who is a Franklin resident and has worked in banking and finances his entire career nearly spit out his teeth when I told him about our mayor’s comment.
Indeed. Who does he think he’s snowing?
Look, the odds are pretty tremendous that when a reassessment goes up, and the average increase in Franklin reportedly was just under 6%, your taxes are going up.
Advantage Credit Counseling Service, Inc. (ACCS) is an agency that provides private, confidential budget, credit counseling as well as a special debt management program.
They dedicated a very informative page on their website to reassessments. Some of the key highlights:
- As many as 60 percent of properties across the country are over assessed, according to the National Taxpayers Union.
- Homeowners can lower the assessed value of their home by filing an official appeal with the assessment office.
- However, only 2 to 3 percent of homeowners actually attempt an appeal, and usually only 20 to 40 percent of those appeals are successful.