Rule Six of the Mississippi State Tax Commission says properties in all counties are to have a close inspection and be revalued every four years. In Grenada County the last inspection was 2001, making this the year for property owners to find out what the county now considers the value of their properties.
The Tupelo based Ckb Inc. sent a team of five appraisers to conduct the reappraisal of properties in Grenada County over a three to four month period, said Grenada County Tax Assessor/Collector David Melton.
With the updated properties values being placed on the tax rolls, many property owners will be paying more property taxes this year.
Melton says not all property taxes went up.
"Some went down because of depreciation," he says.
Some reappraisals take place each year, as tax officials become aware of changes to some properties.
"We go out and ride the roads, to see where new house have been built," Melton said.
By law, the county is required to add new houses and other buildings to the county tax roll.
"We look at how much it costs to have a house built and we later match that price with the state manual," said Melton.
Those who wish to know whether their property has increased or decreased in value can go by the Tax Assessor's Office.
The actual amount of property taxes will not be known until the Grenada County Board of Supervisors sets the county's millage rate. After that the tax office will mail tax bills to property owners.
Property owners who disagree with the assessment of their property can challenge the numbers at the Tax Assessor's Office. The tax rolls, including changes, must be voted on by the Board of Supervisors.