The City of Jonesboro announced Thursday of its intentions to increase the 2026 property taxes it will levy this year by 40.48 percent over the rollback millage rate.
Each year, the board of tax assessors is required to review the assessed value for property tax purposes of taxable property in the county.
When the trend of prices on properties that have recently sold in the county indicate there has been an increase in the fair market value of any specific property, the board of tax assessors is required by law to re-determine the value of such property and adjust the assessment. This is called a reassessment…