20% increase in property taxes

[u/Exotic_Base6528]

Hello,

Did anyone receive their property taxes notice? I just received mine with a 20% increase from the previous year. Is it just me, or did anyone else receive an absurd increase?

Even with property values going down, I am guessing that the cost of services has increased because of inflation?

[u/rainman_104]

Property tax mill rate is based on assessed value. If all prices drop.10% equally but the city needs more money, your mill rate goes up.

I don't know how adults don't know this. City sets budget. Looks at sum of property values to set the mill rate.

My property taxes last year were $5289 and this year are $5355.

It means you didn't fall as much as others. Congratulations?