Quote:
Originally Posted by Resolute 14
All things being equal, tax increases amount to a few dollars a year. It's the appreciation in value of your house that causes your bill to jump, and that is beyond city council's control.
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That isn't how property taxes work.
The city sets a budget for the year and divides it by the total value of all the property in the city then multiplies it by the value of your individual property.
If every house in the city doubled in value the property taxes would not double. Any tax increase is due to the cities rate increase and any change in the value of your property relative to the whole city. ie. If your property doubled in value but the rest of the city remained unchanged then your taxes would double.