BOONEVILLE – A second reappraisal of Prentiss County properties is on schedule, with a March 2010 deadline for the next benchmark, a county official said.
The county was required to deposit $103,000 with the state Tax Commission last week, funds that will be put in escrow until the county is fully compliant with its reappraisal work, said Chancery Clerk Bubba Pounds.
“We had a problem with our reappraisal about a year ago,” Pounds said, “and we have an agreement with the Tax Commission on how to correct the problem.”
The escrow requirement went into effect because the county was preparing to move the 1 mill that it collects in a separate fund throughout the year into the general fund at the end of the fiscal year.
Since that mill cannot be used without permission of the Tax Commission, the state agency flagged it for escrow until the required reappraisal is complete, Pounds said.
“The appraiser said everything is going well with the reappraisal, and in fact is somewhat ahead of schedule,” Pounds said.
The board of supervisors initially chose a contractor to conduct the reappraisal, but it was not the choice of the county tax assessor.
When the contractor submitted his reappraisal work, the state Tax Commission found it unacceptable and required the work be done again.
The contractor currently assigned the project is John Greco of Greco Real Estate Appraisal Services of Greenville.
“We need to submit soil samples and indexes by March, and he feels that will be done,” Pounds said.
Once the county is compliant, it will receive the escrow funds back, with interest, the chancery clerk said.
Contact Lena Mitchell at (662) 287-9822 or email@example.com.
Lena Mitchell/NEMS Daily Journal