The whole truth when it comes to property taxes

The whole truth when it comes to property taxes...

The problem of rising property taxes being caused by an increase in assessed value is a myth. The reason property taxes rise is because the taxing districts keep increasing their budgets.

Simple math shows the real culprit:

PROPERTY TAX RATE is the BUDGET divided by the TOTAL ASSESSED VALUE OF THE TAX DISRICT.

Your property tax is your PROPERTY'S ASSESSED VALUE multiplied by the PROPERTY TAX RATE.

If all is fair and equal, all of the properties in your tax district get the same increase in ASSESSED VALUE, so the real reason your property taxes go up is because the PROPERTY TAX RATE increases!

The funny/sad thing is with all the building going on, that adds more property to the property tax roles, our rates should be decreasing but they are not because local taxing districts keep raising their budgets (think salaries, benefits, waste, etc.).

What can be done? Attend your local tax district's budget meetings, get a copy of the budget and tell them what you think.