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What are my taxes going to be, in light of the increase in property assessment?

April 26, 2017assessment going increase light Property taxes

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What are my taxes going to be, in light of the increase in property assessment?

2 Answers

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An increase in your property assessment does not mean your taxes will automatically go up by the same amount. Assessment is simply a distribution mechanism. Your assessment simply indicates the estimated value of your property. The tax rate, which is based on budget requirements, is what determines how much your taxes will be. The 2008 tax rate won’t be set by City Council until May 2008.

0

Posted

An increase in your property assessment does not mean your taxes will automatically go up by the same amount. Assessment is simply a distribution mechanism. Your assessment simply indicates the estimated value of your property. The tax rate, which is based on budget requirements, is what determines how much your taxes will be. The 2009 tax rate won’t be set by City Council until May.