AVI Home Values Explained at Panel

At the Chestnut Hill Community Association's first Actual Value Iniative and real estate tax panel - a panel that included a number of city council members and city officials - many residents asks the same question, a question they couldn't quite get an answer to.

The question: How is my home going to be valued under AVI? What method is being used to decide its worth?

That question should be answered at the CHCA's second AVI and Real Estate Tax panel on Feb 12.

The second discussion will feature the city's chief assessor from the Office of Property Assessment, Richie McKeithen, and the deputy administrator for assessment programs and policy, Marisa Waxman, who will discuss the process used to find the value of the city's homes.

CHCA president Brian Tilley is hopeful that these city officials will be able to explain to residents of the Northwest just how their properties have been valued.

"When we set up our first panel, the assessor's office declined to attend because they didn't want to be in a debate-type situation," he said. " They wanted a night specific to them and to AVI implementation. This is it."

Topics for the panel will include the process of tax assessment, why and how assessments and home values have been set at their current status, and what options homeowners have going forward as AVI rolls out in 2014.

"This will hopefully answer the questions that people really want to know," Tilley said.

The format of the event will be 30 minutes of discussion from the panel followed by up to 90 minutes of questions from the audience.

The AVI panel will take place on Tuesday, Feb 12 at Norwood-Fontbonne Academy at 7 p.m. The event is free and open to all residents of the Northwest.