Quote:
Originally Posted by CroFlames
Mine is up 4%. Not thrilled about that.
Was hoping for a decrease given the downturn in house prices.
|
I don't get that logic...everyone's house prices went down which means the mill rate goes up. It's simple. The city needs say $5 billion for the budget(made up number). They set the mill rate at whatever they need to get that. Your property has no bearing on it at all, other than the proportion you pay versus others.
Your only hope is to find a way to devalue the houses that sell in your neighbourhood more than the loss in value of sales in other neighbourhoods. Then when the assessment happens, your home is compared to those that sold near you.
And inflation is 2%, and the city has their own inflation numbers they use, so 4% increase is in reality a 2% increase over inflation.