Quote:
Originally Posted by Velvet
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.
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Mill rates aren't usually equal. For example, in prime waterfront properties the mill rate will usually be 2x what a similar sized non-waterfront property "across the street" in the same area will be regardless of property value which could lead to the waterfront one paying 5x the yearly taxes when you factor in the higher value.