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#3 Public Information Ideas and Handout Public Info Ideas – Revaluation Staff developed the following list of ideas to publicize the upcoming Revaluation. During the committee meeting, staff will ask your thoughts on the following questions:  What ideas from the list below do you think would be helpful?  Are there any that seem unnecessary to you?  Are there other ideas that you would like to see completed that are not on this list?  What is the message you would like conveyed?  What are the questions you would like the City to answer about the Revaluation? Ideas Link to assessment info on website homepage and property search page Video an interview about the revaluation process to broadcast routinely on JATV  Link to video on city homepage  Broadcast before council meeting  Upload to YouTube Report or series of reports at council meetings about the Revaluation (City manager report) City Assessor or Assistant City Manager speak at service clubs/business groups to share info about the upcoming revaluation  Westgate  Forward Janesville  Downtown Development Association  Morning Rotary  Noon Rotary  Lions  Golden K  Presentation at the Sr Center Web ads on Gazettextra.com - $200/mo approximately  Ad would link to online Reval information Print ads leading up to distribution of assessment notices - $2400 approximately Write guest column for the Gazette Request interviews with the Gazette, Messenger, Dan Conry, etc. Online tax calculator  Property owners input their new assessed value and see what their tax bill would be (using the 2010 tax rate) Reval Facebook page Front page article in May 2011 city newsletter  FAQ style GIS map of sales layers(Gordy/IT project) IT could build a model small city (a couple dozen properties) to demonstrate the differing levels of ‘revenue neutrality’ based on property makeup. Can show via graphs of values/tax distribution a couple differing scenarios. (Gordy/IT project) Draft text for May city newsletter To the public May 23 Special Report: 2011 City of Janesville Revaluation Underway The City of Janesville Assessor’s Office is underway with the implementation of the City’s next revaluation. A citywide residential and commercial revaluation has not been completed since 2002 and the state Department of requires that we complete one. Please find below a series of frequently asked questions about the upcoming revaluation process. Should you have any questions, please call the Assessor’s Office at 755-3045. How will the revaluation affect my property? Each property owner will receive in mid-June 2011 a notice of their property’s assessment. The notice will list what your property was previously valued at and what your new valuation is proposed to be. Why does the City have to do this? Revaluations are used to equalize the tax base for all real and personal property on the basis of fair market value. Having all properties assessed at their current value ensures each property owner pays his or her fair share of taxes. Will my taxes increase? Taxation is determined through spending choices of officials in many taxing jurisdictions, such as the State of Wisconsin, Rock County, Janesville or Milton School District, Blackhawk Technical College and the City of Janesville. Once the jurisdictions decide how much funding needs to be obtained through taxes, each property owner’s tax bill is developed using the assessed value of the property as the guide. Several homes in my neighborhood have foreclosed and the banks sold them for much less than what I paid for my home. Does the City consider foreclosures when determining my property’s value? The Assessor’s Office uses only “arm’s length” sales when determining a property’s value; foreclosures, bank-owned home sales or sales to relatives are not included. While there are many news stories about foreclosures and they have become very prevalent in other parts of the country, foreclosures and bank-owned home sales are still a very small percentage of the Janesville real estate market. Therefore, the Assessor’s Office does not use them as appropriate comparables when determining property value. The economy hasn’t been that great in the last few years and homes in my area aren’t selling quickly. Do I infer from these situations that my property will be worth less than the last time it was assessed in 2002? Not necessarily. The chart below depicts how the value of an average priced home in Janesville would have appreciated if the City had revalued the property every year. In the early 2000s, property value rose steadily, while in the late 2000s, values began to decline. Please notice, however, that in comparison to 2002, average priced homes are still valued higher than what they were in 2002. We expect this same trend to occur throughout Janesville. [insert graph] Who should I contact if I have questions about the revaluation process or my assessment notice? Call the Assessor’s Office at 755-3045.