The Ringgold County Assessor will be sending assessment notices to many taxpayers in the next week. A taxpayer will only receive a notice if the value has been changed from the previous year’s assessment.

Highlights of the changes include assessments on ag land are up 62% across the board while ag buildings are down dramatically in most all cases. Ag buildings have been reassessed on an individual basis but in general terms most buildings are down about 50% in value. All properties with Agricultural classification will be subject to a roll back presently estimated to be 65% though that number will not be finalized until fall. The net taxable increase in land would be about 13% up while ag buildings are looking to be net down by 50% or more.

Residential, Commercial and Industrial will only see changes as individual parcels warrant.

Recent economic events brings into question the value of any real estate. In the matter of agricultural properties the assessed value is derived from calculations of crop income and expenses from 2003 through 2007. This lag is obviously enjoyed by taxpayers in times of real estate value going up but not so much in times that real market values may be leveling off or declining and assessed values continue up.