FOR IMMEDIATE RELEASE

July 2, 1998

Taxpayers who bought residential property during 1997 but used the property for a purpose other than as an owner-occupied home may be eligible for a refund.

If a person bought property in 1997 which was used as someone's owner-occupied home and then the new owner did not use the property as an owner-occupied home, the property may have been taxed for the entire 1997 tax year at the 6% assessment ratio. An owner-occupied home is assessed at 4% and other real estate is assessed at 6%. Under recently enacted legislation, the property should have been assessed at 4% for the time it was used as an owner-occupied home and 6% for the time it was used for another purpose. If the taxpayer paid the taxes for the whole year at the 6% ratio, the property owner may be entitled to a refund of taxes paid at the higher rate.

The purchasers must apply for this refund from the county assessor by August 9.

Property owners can apply for the refund by writing a letter to the county assessor asking for a refund. Be sure the letter is postmarked by August 9. Property owners may wish to send the letter by certified mail so they have a receipt that application was made by the deadline.

For more information, contact the assessor in the county where the property is located.