Quote:
Originally Posted by Tolwyn
Looks like my property taxes go down for another year in a row.
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Just because your assessment goes down doesn't mean your taxes go down; they only go down if your assessment drops more than the average (and even then that's not accounting for the tax hike). Taxes are calculated based on the total amount of tax the city is collecting times the value of your house divided by the total value of all properties in the city, not as a certain percentage of the value of your house.
For some reason my house is assessed as $55,000 higher than my next-door neighbour, despite them having the same model of house and a larger lot (my basement is developed, but I can't see that being worth $55,000).