Quote:
Originally Posted by Ajd
First of all, I dont think this should be legal in any way shape or form... are they going to assess based on today's figures because we are in the middle of a huge real estate value bubble that will undoubtedly pop and inflation is killing us. More taxes more taxes more taxes
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An increase in property values has ZERO direct correlation to an increase in property taxes. The town determines its budget, and then imposes a tax rate based on property values to equate to the budget. If everyone’s property value goes up by the same percentage and the budget stays the same, property taxes for everyone stay the same. The only way your property taxes go up is if your assessment is increased disproportionately to others in the town, or if the town’s budget increases. Property values and assessments have nothing to do with “more taxes more taxes more taxes.” More taxes come about because your elected representatives increase the town’s budget and that gets spread around based on assessed values.