if any politician gets your tx rate reduced, and then they increase the value of your house--have you done any good? in my case a reduction of the tax rate ended up costing more--comments?
2007-05-18 19:09:42 · 3 answers · asked by wftxrabbit 2 in Business & Finance ➔ Taxes ➔ United States
Sure you are better off. The incease in value of your house is a standard process, ie a 3 year re-appraisal. That has nothing to do with your tax rate. So if they didn't lower your tax rate you would have paid the higher tax rate on the higher property value.
2007-05-18 19:15:01 · answer #1 · answered by Gatsby216 7 · 1⤊ 0⤋
Typical. Especially in TX from personal experience. But you'll be paying less in total that you would have without the adjusted rate. Small consolation maybe, but that's how it works.
Budgets are ususally worked out at the same time that property valuations and appeals are worked out. Once that's done, the total budget is divided by the adjusted tax base to get the rate. The rate is then applied to each property and the tax bills are cut and mailed.
2007-05-18 22:20:24 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
wtf
2007-05-18 19:11:56 · answer #3 · answered by Kevin C 3 · 0⤊ 0⤋