Quote:
Originally Posted by MrChip72
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.
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Aha, makes sense, in a way. But expensive houses don’t go up in the same proportion as cheaper homes. And yet the mill rate is probably the same. So there is a redistribution of income.