They Don’t Do That inAppeals Process • Real Property Protest-June 1 ... Missouri Classification...
Transcript of They Don’t Do That inAppeals Process • Real Property Protest-June 1 ... Missouri Classification...
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They Don’t Do That in Texas !
Oklahoma Tax Commission Annual Conference, Tulsa
2008
Review of Surrounding States Ad Valorem Systems
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Dedicated to Anyone who has ever heard:
• “I’m going to sell my property and move to ________.
• Our taxes are higher than________.
• They do _________in________ so why don’t we do that here???
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Neighboring States Ad Valorem System
• Who does the job?
• What are the neighbors’ doing?
• How does that compare to Oklahoma?
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Our Neighbors
• Arkansas• Colorado* • Kansas*• Louisiana• Missouri• New Mexico*
•Texas*
*Touches• Cimarron County
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The Big Issues• Tax Base • Homestead Exemption• Seniors/Low-income• Agriculture
• New Approaches
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Same Only Different
• Two States Appointed Assessors• Two States Term Limited• One State
– 100% Value– Tabor– State Home Rule
• Two “Classification” States• Five Fractional Assessment States
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Comparing States
• Hard to Compare
• Grass is always Greener.
• Comparison Useful/ Part of Tax Policy
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Apples and Oranges
• Colorado does not have a homestead; Oklahoma has a homestead exemption.
•True, but residential property is assessed at 7.96% in Colorado.
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Cherry Picking
• Arkansas’s average millage is lower than Oklahoma:– Arkansas Average Millage is $46.69.– Oklahoma $85.00
True, but Arkansas’s local assessment percentage is 20%; Oklahoma 11-13.5%
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Always do the Math • Louisiana’s homeowner’s exemption
is $7,500; Oklahoma only $1,000.
– Louisiana 10%; Oklahoma is 11-13.5%
– A $75,000 house has zero taxable value.
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Show me the Money!!
Local$0.84 BillionNew MexicoLocal$1.25 BillionArkansasLocal$2.2 BillionOklahomaState**$2.5 BillionLouisianaState*$3.6 BillionKansasLocal$4.84 BillionColoradoState*$5.5 BillionMissouriState*$30 BillionTexas
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National Legislative Conference 2005
$ 422Arkansas49$ 448New Mexico48$ 485Oklahoma47$ 538Louisiana45$ 809Missouri36$1,059Colorado23$1,124Kansas18 $1,320Texas13
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Rank by Effective Tax Rate
0.72%New Mexico0.88%Arkansas1.02%Louisiana1.03%Oklahoma1.08%Colorado1.38%United States1.42%Missouri2.09%Kansas2.57%Texas
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How good are the rankings?
Don’t bet the farm.
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Accurate Rankings???
47454647Ok.12151013TX48424748NM38363736MO44504145LA19271918KS35303223CO49464949Ark
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Oklahoma: Who does the job?
• County Assessor
• Elected to Four Year Term (No Term Limit)
• Accredited
• County level elected official
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Oklahoma: What is the job?
• Fair Market Value• Fractional Assessment Percentage
– 10-13.5% Local; 22.85% Public Service**• Millage Limitations• SQ 676 Limitation (5% Cap)• Homestead Exemption
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Fractional Assessment
• Market Value• Assessment %
• Assessed Value
• Millage
• Tax Bill
• $100,000• X 11%
• 11,000
• 80 mills
• $880
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What’s Different about our System?
• County sets percentage
• Fixed Millages (Not set by budget process)
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Arkansas and Oklahoma
• 75 County Assessors (Elected)
• True Market Value
• Assessment Coordination Division
• 77 County Assessors (Elected)
• Fair Market Value
• Ad Valorem Division
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Arkansas and Oklahoma
• State Agency that does training, ratio studies, technical assistance, reappraisal orders
• Public Utilities and Carriers-Public Service Commission
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Same only Different
• Extensive Training requirements for county (May not be the assessor)
• Agriculture—Rice, Crop, Pasture, and Timber land
• Values more central by district
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Arkansas and Oklahoma
• Appeals to County Board
• Budget millages set by Quorum Court. (Includes up to 15 people)
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Arkansas “No Homestead”
• Arkansas has no homestead exemption, but instead $300 tax credit.
•Would you rather have a $300 tax credit or a $6,425.35 homestead?
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Arkansas
$559$880Final Bill-$300Credit$859$880Tax Bill42.96 mills80 millsMillage20,00011,000Taxable20.0%11.0%Assessment %$100,000$100,000MarketArkansasOklahoma
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Amendment 79 (2001)
• 5% limit on homesteads from reappraisal
• 10% limit on non-homestead real property
• Freeze for 65/disabled (no income level)
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Arkansas Agriculture
• Four Land Regions (Delta, Ouachita, Ozark and Southwest)
• Rice, Crop, Pasture and Timber
• NRCS Classification/ ACD Value
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Arkansas Summary
• Similar Systems
• Higher Assessment Percentage
• Homeowner Tax Credit
• State Ordered Reappraisals
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Colorado and Oklahoma
• 64 County Assessors**
• Fractional Assessment
• Fair Market Value
• 77 County Assessors
• Fractional Assessment
• Fair Market Value
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Colorado and Oklahoma
• Elected Assessors -64 Counties**
• Term Limits (Two terms, three terms, and eliminated terms limits)
• Two appointed Assessors (Denver and Broomfield Home Rule City-County)
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Education
• Required Annual School
• Classes not available to public
• IAAO/ethics/ law seminar
• Colorado Real Estate Appraisers
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Colorado Residential
• Colorado Residential 7.96%
• Other property 29%
• Gallagher Amendment stabilizes residential property’s share of the statewide property tax base
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Gallagher Amendment (1982)
• Biennial Calculation
• Legislature adjusts assessment percentage for residential
• When home values grow faster than business, homeowners pay less.
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Taxpayer Bill of Rights (TABOR)
• Gallagher Amendment (1982)
• TABOR (1992) Revenues tied to inflation and population growth
• Referendum C suspended revenue limit 2006-2010.
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Residential Tax Calculation
$601.31$880Tax Bill
75.541 mills80 millsMillage
7,96011,000Taxable
7.96%11.0%Assessment %
$100,000$100,000Market
ColoradoOklahomaResidential
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Colorado Tax Calculation
$2,190.69$880Tax Bill
75.541 mills80 millsMillage
29,00011,000Taxable
29%11.0%Assessment %
$100,000$100,000Market
ColoradoOklahomaCommercial
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Colorado Relief Programs• Tax/Rent/Heat Rebate •• Property Tax Deferral •• Property Tax Work-Off Program•• Senior Citizen Exemption •• Disabled Veteran Exemption
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Colorado Senior Exemption
• 65 Years Old/Owner Primary Residence.
• 50% of first $200,000 actual value.
• State reimburses local government
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Senior Exemption
$901.96 $270.59Tax Bill75.541 75.541Mills
$11,940 $3,582Net Assessed7.96 7.96Assessment %
$150,000 $45,000Senior Value$100,000 $45,000Senior Exemption$250,000 $90,000Market
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Appeals Process
• Real Property Protest-June 1
• County Board (Commissioners)
• Appeal to Arbitrator, District Court or Board of Assessment Appeals
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Colorado Agriculture
• Land must be farm, ranch, conservation practice, or restored
• 40 acres forest; 80 acres other• Value: Capitalized at 13%• Income: 10 year average
rent/expenses• 29% assessment.
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Colorado Summary
• Similar System
• Gallagher Amendment and Tabor
• Arbitrator System on Appeals
• Numerous Relief Programs
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Kansas and Oklahoma
• 105 County Appraisers
• Fractional Assessment**
• Fair Market Value
• 77 County Assessors
• Fractional Assessment
• Fair Market Value
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Kansas
• Kansas County Appraisers
• Appointed by County Commissioners-4 year term
• Certified by State
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Kansas Classification System
• Residential 11.5%• Agr Land 30.0%• Vacant Lots 12.0%• 501 (c) 12.0%• Public Utility 33.0%• Commercial 25.0%• Industrial 25.0%
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Kansas Personal Property
• Mobile Homes 11.5%• Public Utility PP 33.0%• Motor Vehicle** 30.0%• Commercial** 25.0%• Other PP 30.0%• Household and Inventories
Exempt
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Classification System
•Pros• Tax burden • Favored classes• Exemptions
•Cons• Complexity• Inequity • Fights over
classification
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Assessment Percentages
33.3%33.3%25%33.3%29%25%P.U.
33.3%12%10%30.0%29%20%Agr
33.3%32%15%25.0%29%20%Com
33.3%19%10%11.5%7.96%20%Res
NMMoLaKsCOArk
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Kansas Tax Calculation
$1,357$880Tax Bill
$46Less School Millage $20K
118 mills80 millsMillage11,50011,000Taxable11.5%11.0%Assessment %$100,000$100,000MarketKansasOklahoma
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Kansas Homestead Refund
• Homeowner or Renter– 55 Years old– Disabled – Dependent children
• Kansas Resident, Income $29,100, no delinquent taxes and other requirements
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What about the renter???
• Rented House on tax rolls
• Rent not paid from public funds
• 20% of rent assumed tax amount
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Kansas Certified Appraiser
• Certified General Real Property Appraiser,
• Registered Mass Appraisal,
• Or IAAO RES or CAE
• 6,000 hours experience; case study
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Kansas Agriculture
• “Use Value” Appraisal
• Modified income approach
• Eight year average net income
• State values land annually
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Kansas Summary
• Appointed County Appraisers
• High Level of Training
• Classification State
• Homestead Refund
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Louisiana and Oklahoma
• 64 Parish ** Appraisers
• Fractional Assessment**
• Fair Market Value
• 77 County Assessors
• Fractional Assessment
• Fair Market Value
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Louisiana Classification
• Land 10.0%• Residential 10.0%• Commercial 15.0%• Business Personal 15.0%• Public Service** 25.0%
• ** Excludes land
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Louisiana Tax Calculation
$200 $800Tax Bill80 mills80 MillsMillage$7,5001,000Homestead10,00011,000Taxable10.0%11.0%Assessment %$100,000$100,000MarketLouisianaOklahomaHomestead
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Special Assessment Level
• Homestead Property 65 or older
• Veterans 50% rated/disabled/MIA
• Cannot receive freeze if adjusted gross income above $62,180
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Louisiana Agriculture
• Use Value
• Timber methodology
• Capitalization Rate fixed 10%
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Louisiana Summary
• Elected Parish Assessors **
• High Homestead Exemption
• Classification System
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Missouri and Oklahoma
• 112 County Assessors (Three appointed)
• Fractional Assessment
• Fair Market Value
• 77 County Assessors
• Fractional Assessment
• Fair Market Value
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Missouri Classification
• Real Estate 19.0%
• Agriculture 12.0%
• Commercial/ other 32.0%
• Cars and boats 33.3%
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Missouri Classification
• Historical autos 5.0%
• Farm Equipment 12.0%
• Livestock 12.0%
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Missouri Tax Calculation
$1,102$880Tax Bill58 mills80 millsMillage19,00011,000Taxable19.0%11.0%Assessment %$100,000$100,000MarketMissouriOklahoma
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Senior Exemption
• 65 or older/totally disabled/60 or older receiving survivor social security AND
• Income $25,000 single; $27,000 married.
•Refund up to $750 of tax bill.
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Homestead Preservation• Seniors/100% Disabled tax credit for
increase 2.5% (or 5% in reassessment year)
• 65 or older-Income less than $70,000• Taxes must be current
• Homeowner can’t get both Senior Exemption and Preservation!
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Appeals
• Informal Appeal to County Assessor
• Board of Equalization
• State Tax Commission (hearing officer, full Commission)
• County Circuit Court
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Missouri Summary
• Classification System
• Appeals to Tax Commission
• St. Louis Counties
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New Mexico and Oklahoma
• 33 County Assessors (Two term limit)
• Fractional Assessment*
• Fair Market Value**
• 77 County Assessors
• Fractional Assessment
• Fair Market Value
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New Mexico Tax Calculation
45.69 mills80 millsMillage$1,431.62$800Tax Bill
31,30010,000Taxable$2,000$1,000Hmstd/Hm
33.3%11.0%Assessment %$100,000*$100,000MarketNew Mexico Oklahoma
New Mexico has state millage.
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Agricultural Property
• Valued on productivity value
• Application required
• Roll-back tax
• Tractors and equipment exempt
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New Mexico Summary
• Higher Assessment Percentage
• No homestead (Homeowner Credit)
• Fair Market Previous Year
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Texas and Oklahoma• 254 Counties
(District Appraisers)
• 100% Value
• Thinks they have a football team
• 77 County Assessors
• Fractional
• Has a football team.
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Appraisal District System
• Chief Appraiser (non-elected)• Appraisal Review Board (citizen
board)• Appraisal District Board of Directors• Schools, Cities, Counties make up
Board of Directors
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Texas Appraisal Districts
• Before 1979 multiple taxing authorities
• Different valuation from City, County, School, etc
• Different bills on same property
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Texas Ad Valorem
• Produces about $30 billion ($20) compared to $2.2 billion
• Schools—59% of property tax
• 42% of public school budget from ad valorem!
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Texas is 100% Value State
• Property Value is based on 100% value
• Tax Rate is based on $ per $100 value
• Homestead Exemption• Exemption for 65/disabled
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Texas Tax Calculation
$556.60$1,222.18$510.40$2,289.81.5565961.4386.638Tax rate
1000850800X .01$100,000$85,000$80,000Taxable
0$15,000$20,000-Exempt$100,000$100,000$100,000MarketCountySchoolCityHomestead
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Texas Tax Calculation
$278.30$1,078.95$255.20$1,612.45.5565961.4386.638Tax rate
500750400X .01$50,000$75,000$40,000Taxable$50,000$25,000$60,000-Exempt$100,000$100,000$100,000MarketCountySchoolCitySenior/Hstd
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Texas Agriculture
• Use Value Productivity
• Cap Rates 10% Agr and 9.86% Timber
• Typical income less expenses
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Texas Summary
• They’re Texas and we’re not.
• Appointed District Appraisers
• Complex Exemptions
• 100% Value
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Our Unusual Neighbors
The Top Five Ad Valorem Features:
Weird or Brilliant
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Colorado’s Tax Work Off
• 60 Years or Older• Or Disability• Work off taxes by temporary job• $7.02 per hour up to $702.• Must be homeowner
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Missouri’s Taxpayer Advocate
• Property Owner Advocate Service• Suggest appeal strategy• Organize your evidence• Accompany you to hearings
• Disclaimer: Can’t represent you before Board.
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Harris County isettle• On-Line Appeals
• County reviews property
• Change made or scheduled for Appeal.
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Tie
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Missouri’s Appeals Process
• Informal to County Assessor• Appeal to County Board
•Appeal to State Tax Commission
•Appeal to Full Commission• Circuit Court
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Kansas Classification System
• Kansas Classification System
• Different assessment percentages for all classes of property
• More assessment percentages than any other neighbor.
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Texas Homestead Exemption
• Homestead Exemption from City• (Set by % limit)• Homestead Exemption from School• (Set by state: $15,000)
• Homestead Exemption from County• (Set by County within limit)
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Thank You.
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