Fox 28: South Bend, Elkhart IN News, Weather, SportsHow to read your property tax bill

How to read your property tax bill

Property tax bills are out, but it can be difficult to understand what your bill says.

Fox28 talked to an accountant to find out how to make sense of everything.

CPA Jeffrey McGowan with Kruggel, Lawton & Company says you first need to look at line 2, your assessed value of property..

Basically, did the market value of your home go up?

Also, compare the credits you received from the state this year to past years; you'll notice you're not receiving as much.

If you feel your assessed value is too high, remember the value is from an equation done a couple years back.

McGowan says, "A lot of the numbers date back to a full assessment in 2002 and another assessment in 2005, and they came up with assessed value and since that time they have done market trending."

For example, if they figured your area saw a 10% increase in price then they added that to your value.

If you plan to file for an appeal in St. Joseph County to lower your assessed value, that must be turned in by December 30th.

Remember all tax bills in St. Joseph County must be paid in person or postmarked by December 11th.