HOT SPRINGS – Madison County commissioners and the county management team are hosting five town halls to inform homeowners on the process involving the 2024 home property revaluation, the first post-COVID.
The last revaluation occurred in 2020.
County Manager Rod Honeycutt and County Tax Assessor Diana Norton joined with the five county commissioners ‒Chair Matt Wechtel, Vice Chair Michael Garrison, Bill Briggs, Jeremy Hensley and Alan Wyatt ‒ to meet residents in Spring Creek, Laurel and Marshall, with additional meetings scheduled for Beech Glen and Ebbs Chapel Community Centers on Feb. 6 and Feb. 15, respectively.
The News-Record & Sentinel was on hand at the Jan. 31 town hall at Laurel Community Center in Marshall.
“The reason we’re here, the state came in and had found our home values were below market value, and we were selling them higher,” Honeycutt said.
“Home prices, property prices are going to increase. The mill rate will be reduced. We have to remain revenue neutral by statute. That means that we’re pretty much locked in to the $32 million budget that we had last year. The property taxes last year were $12.6 million, so we’ll be right around the same.”