Clark County Auditor, John S. Federer, announced recently that he has authorized a refund of $1,000,117.32 from the “Real Estate Assessment Fund” to the various taxing authorities within Clark County.
The REA Fund is a special restricted fund maintained on the Auditor’s books to help defray the expenses associated with appraisal of property and the related assessment of taxes. The REA account receives its funding by deducting a small percentage of property taxes from settlements to local schools, townships, municipalities, ambulance districts, etc.
In all, 35 taxing entities will receive refunds. The amount to be received by the various entities was calculated on a pro-rata basis based upon the amount of taxes collected on behalf of each taxing authority for the 2013 and 2014 tax years.
In a letter to the financial managers of the various taxing authorities, Federer said, “I would like to take this opportunity to thank all of you who work so hard to deliver efficient and effective services of many kinds to local citizens.” He went on to say “I also want to thank the employees of the Auditor’s Office for their unfailing and ongoing efforts to keep our costs under control. That efficiency played a large part in making this refund possible.”