ARE THERE LIMITS ON PROPERTY TAX INCREASES?
Yes, there are limits on property tax increases. First of all, most taxing districts have limits on the tax rates that may charge. Second, districts other than schools are limited to annual increases of 3% plus allowance for growth on a portion of their budgets. The growth allowance is determined on the basis of new construction and annexation that occurred during the previous year.
Related Questions
- Who is authorized to request changes in addresses, increases in limits and other modifications to UBS VISA Business or Corporate Cards?
- What are the procedures for requesting increases in the FHA Single Family Mortgage Limits in my area?
- Why are there no limits on the percentage or amount of real estate assessment increases?
