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Home Owners FAQ |
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We are Here for You! |
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The following are a list of Commonly Asked Questions.
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How will changes in assessed value affect my taxes?
Your share of taxes depends upon the assessed value of your property in relation to the assessed value of other properties within your municipality. For example, if your assessed value increase is greater than the average increase for the municipality, your tax share may increase. If your assessed value increase is less than the average for the municipality, your tax share may decrease.
The actual tax levied by the municipality is determined by the budgeted needs of the schools, technical colleges, and municipal, county, and the state governments. All of these taxing units decide what services they will provide and how much money they will need to provide these services. Once these decisions are made, a tax rate is determined. Your actual tax obligation is calculated by multiplying the tax rate by your assessed value.
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