Does the Notice of Valuation and Classification address the property tax impact of the new assessment?
A The probable property tax impact of the new assessment is not addressed through this notification. Tax impact information is published in November of each year on a notice of proposed property tax also known as a truth-in-taxation statement. At that time, the responsibility of elected officials in establishing the property tax levies is made clear. This latter notice provides property owners with an estimate of how much their property tax bill will either increase or decrease due to spending or other factors.
Related Questions
- The Notice of Valuation says the Assessment Rate on my residential property is 7.96%...yet the noted change in value does not reflect this percentage, why?
- Does the Notice of Valuation and Classification address the property tax impact of the new assessment?
- What are the Privacy Impact Assessment (PIA) and the System of Records Notice (SORN)?
