Horn Lake mayor addresses rising assessments

Another DeSoto County mayor has issued a statement regarding the recent announcement that property tax assessment are going to rise significantly

DeSoto County Assessor Jeff Fitch told the Board of Supervisors recently he is being required by a state mandate to assess values to 85 percent of fair market value. Previously, the assessed valuation was as low as 56 percent.  

That means your property tax bill will go up even if the millage rate remains the same, because the assessed value has gone up. 

Horn Lake has the highest millage rate in DeSoto County at 50 mills. Monday, Mayor Jimmy Stokes issued a statement regarding what his city should consider about property taxes. 

Stokes first said it was not his desire to raise taxes in Horn Lake.

“I am fully committed to exploring options to lower the millage rate, provided it is fiscally feasible,” Stokes wrote. “I understand the financial pressures many families are facing and I am dedicated to finding ways to strengthen our community without adding further burdens on our residents.” 

At the same time, Stokes said it is necessary to consider the city’s current financial situation. “This includes carefully reviewing our revenues, expenditures, debt obligations, and long-term financial commitments.”

The mayor said he would be working with the board, city departments, and residents to determine the options to maintain and improve public safety, infrastructure and community development. 

The mayor’s complete statement is found here: