Answer:No. In a revaluation, typically the overall valuation of the City increases – which means a lower mil rate (tax rate) is needed to collect the same amount of revenue for City, County, and school expenses. (The amount the mil rate decreases can’t be calculated until the revaluation and commitment is completed).
In a typical revaluation, about 1/3 of property owners’ taxes go up, about 1/3 remain the same, and about 1/3 go down. All else being equal, your taxes will only go up if your valuation went up more than the average valuation. If your property value went up less than average, or by an average amount, then your taxes will go down or stay the same.
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No. In a revaluation, typically the overall valuation of the City increases – which means a lower mil rate (tax rate) is needed to collect the same amount of revenue for City, County, and school expenses. (The amount the mil rate decreases can’t be calculated until the revaluation and commitment is completed).
In a typical revaluation, about 1/3 of property owners’ taxes go up, about 1/3 remain the same, and about 1/3 go down. All else being equal, your taxes will only go up if your valuation went up more than the average valuation. If your property value went up less than average, or by an average amount, then your taxes will go down or stay the same.
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