If your home assessment value goes down do your property taxes also go down?
March 9th, 2010 | by admin |
If your assessment goes down, your property taxes decrease unless there is an increase in the tax rate. But if the value of your property goes down, your assessment doesn’t necessarily, or even usually, go down.
2 Responses to “If your home assessment value goes down do your property taxes also go down?”
By engineer50 on Mar 9, 2010 | Reply
Only if the tax assessor’s valuation goes down, not the current market value. But local governments are starting to counter that by raising the tax RATES.
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By Judy on Mar 9, 2010 | Reply
If your assessment goes down, your property taxes decrease unless there is an increase in the tax rate. But if the value of your property goes down, your assessment doesn’t necessarily, or even usually, go down.
References :