Quote:
Originally Posted by GGG
The assessed value of homes doesn’t really affect the city budget.
The mill rate is floating. It’s assessed Value / city budget. So if some people are higher then they should be it lowers everyone else’s property taxes marginally. I believe the final Milrate isn’t set until after the appeal deadline occurs so the only real affect on the city is the cost of appeals.
One could argue that by doing a less precise job and having people appeal they save money overall than the cost to improve the accuracy of the process.
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It's probably my misunderstanding this, but let's just pretend the taxes paid in my block should be $10,000 higher per year in total. Someone gets that money?