Marion County Assessor Kelli Kingrey tells KNIA/KRLS News, county-wide residential values need to increase by approximately 19-20%. This is based on 2022 sales. She adds they are required by the Department of Revenue to be at 100% market value using the prior year’s sales data. Some areas of the county will see slightly less of an increase while others will see slightly more – it all depends on the sales data from the area.

Kingrey says, “So, I’m still working on getting numbers finalized. What we have to do is take all of the previous year’s sales which would be all of the good sales from 2022. If you’ve been following the sales market at all, I’m sure you have heard that the market was just crazy. So, basically people have been paying much more for properties than what our prior assessed values have been. So, according to the Department of Revenue we have to try to be at that market value.” 

 This high sales market is not just in Marion County, it’s state-wide, and even nation-wide. Other jurisdictions are seeing this kind of increase and even more.

 Kingrey adds the 2023 assessment notices will be sent out April 1st. She added, people will not pay taxes on the 2023 values until the fall of 2024/spring of 2025. Just because your value goes up by a certain percentage does not mean that taxes will go up by that same percentage. 

Kingrey tells KNIA/KRLS News, she does not raise values to increase tax dollars. In fact, the three main taxing entities are the ones who determine what the final tax dollars required will be are School Boards, City Councils, and County Supervisors and they will not budget tax dollars based on the new 2023 values until January.

If you are concerned with what effect these valuations will have on your taxes, Kingrey encourages people to attend the taxing entities’ budget meetings and make yourself aware of where and how your dollars are being spent.