Quote:
Originally Posted by bizaro86
All the other taxpayers in the city pay a bit extra then.
The city determines its budget and the assessments separately. So if they are consistently too low in your area, your area is paying slightly less than it's fair share of taxes. Then the mill rate is slightly higher and everyone else makes up the difference.
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I guess that's what I figured and just makes this such a bizarre system. The values are all over the place and pretty clearly not actually market values. There are too many examoles where the assessed values are out of line compared to the market for that to be the case. Then you have this "it all evens out" sort of rectification, which further makes it inaccurate.