Quote:
Originally Posted by Velvet
I like this idea of housing crash in TV since I don’t plan to sell in the near future, but why has my property tax gone up by a significant amount, instead of down then?
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I think many people don't understand how property taxes are calculated. Sure it's based on a multiplier of your home value, but that multiplier sometimes called the "mill rate" will simply go up in line with the drop in home prices to meet whatever the local county budget requires.