A large number of Kosciusko County homeowners may be alarmed by an assessment increase in their property values.
The assessment increase doesn't necessarily mean there will be an increase in taxes though.
The notices went out on Friday.
The Kosciusko County assessor's office has been fielding phone calls from many worried property owners.
Many homeowners are questioning why the newly assessed values on their homes suddenly jumped.
It's because values are now based on market value through a technique called trending.
“The people need to understand that for the last 15 to 20 years we’ve been part of an assessed value which is only a third of the tax value which didn’t have any thing to do with market value.. now we are to be at market value,” says Kosciusko County Assessor Laurie Renier.
A property tax relief package from lawmakers is also expected to help out homeowners this year.
Lawmakers earmarked three hundred million dollars for rebate checks this year.