Coventry Smidge Tax

How to determine if you are paying a smidge tax or you are getting a smidge windfall! LOL

To find your appraised and assessed values use the link provided to bring you to Coventry’s property search. Enter your name or other info to view your properties. Select “Property Card” and scroll down. You will find both your appraised and assessed values

Step 1: Find the appraised value of your property on your property card.

Step 2: Find the “assessed” value of your property on your property card.

Step 3: Divide the assessed value by the appraised value. Set your calculator to 5 decimal space.

If the outcome is greater than .70000 you have a smidge tax.

Example:

Step 1: Appraised value equals 2,000

Step 2: Assessed value equals 2,800

Step 3: 2,000/2,800 = 0.7143

.714385 equals 71.43%

The Smidge Impact.

As you can see the actual dollar impact is a ridiculous small amount, only .95 cents per lot, but in this case the percentage assessed is well over 70% and the effective or actual mill rate being paid because of this over assessment is 24.24, well above the established mill rate of 23.76. This type of calculation appears to be widespread across many properties in Coventry and has greater impact on lower value properties.

This really is not so much about the dollar value of the situation, but rather about ensuring the Town uses systems that have integrity and that there is accountability and transparency when these types of situations arise.

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