Quote:
Originally Posted by puckedoff
I am a new homeowner. Does this mean property taxes can go down, or do they just adjust the base rate to compensate? That would make my day if my property tax declines.
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This is the revenue neutral number. So at December 31 they say what your tax bill will look like if they dont adjust the tax (mill) rate....which they always do.
So if yours went up by 10% @ Dec 31, and they increase the mill rate by 2%, you'd have an overall increase of ~12% (I think I did that math right-ish)
So to answer your question, no they don't adjust the base rate to compensate, but the base (mill) rate will go up every year anyways.