Quote:
Originally Posted by Bring_Back_Shantz
They aren't linked to housing prices, they are linked to housing evaluations the mill rate, and the city property tax budget.
If the city raises property taxes, it doesn't matter if the price or assessment of every house in the city drops, on average everyone's taxes are still going to go up.
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It's surprising how many people still don't know how this works. At the end of the day, the city has a property tax amount they want to collect from it's residents. Your house price just determines what portion you will pay relative to your neighbours, and your mill rate determines how much your area pays compared to other areas.