If my assessed home values drop, will my property taxes do the same?

If my assessed home values drop, will my property taxes do the same?

Not necessarily. Property taxes are budget driven from each taxing districts that serves your property. If all of the taxing districts in your properties Tax Code area budget the same amount from property tax from one year to the next, but property values go down in your code area, the levy rate would go up automatically to compensate in order to have enough money to sustain the budgeted needs. 

If your property value dropped, but all of the other property values in your tax code area increased, you may see a decrease in how much property taxes you pay. For example, If all of the taxing districts in your properties Tax Code Area budget the same amount from property tax from one year to the next, but you removed a structure from your property making your value go down, while values go up for all other properties in your code area, the levy rate would go down automatically to compensate because there would be more value than budgeted needs. This is why the Assessor uses mass appraisal valuation methods to establish a fair market value on all property in the county to ensure a fair and equitable distribution of the property tax burden.





Show All Answers

1. What is an occupancy tax?
2. Can I see a map of my property?
3. How are the taxes on my property determined?
4. What does the category on my assessment notice mean?
5. How does the Assessor determine the value on my property?
6. If my assessed home values drop, will my property taxes do the same?
7. What is the Homeowner's Property Tax Exemption?
8. Is there a program that can help with paying my property taxes?