If my value goes up won't my taxes go up too?
Not necessarily. Tax rates are calculated based off of the actual amount allowed to be levied by a Taxing district using the district budget and state law. If the value in a district remained constant but the levy request was allowed to increase the rates would go up and taxes would go up. If the value increased and the levy request was constant the rate would go down and taxes would stay up.

To explain this simply; the tax rate is the allowed levy request divided by the total assessed value in a district. That rate is then multiplied by your individual value to determine the tax paid to that district by you. Many different districts collect tax from each parcel and their rate and budgets are submitted and limited separately.

Show All Answers

1. How often does the Assessors Office revalue my property?
2. How often does the Assessors Office physically inspect my property?
3. If my value goes up won't my taxes go up too?
4. How can I appeal my Assessed Value?