i got this letter from my township saying the median level of your township is 33.33% and i have no idea what it mean
2007-11-07 15:40:59 · 2 answers · asked by luie637@sbcglobal.net 2 in Politics & Government ➔ Law & Ethics
your tax assessment? depending on where you live municipalities usually re-assess property values every 3 to 6 years. here it is every 5 years. you don't actually pay taxes on the appraised value of your property you pay tax on a percentage of the value. here it is 20%. i believe if i understand what you have asked is you are just receiving notice that the property is going to be re-assessed. your rate is 33.33% of the appraised value. or i could be flipping ignorant and not know what this is.
2007-11-07 15:51:18 · answer #1 · answered by michr 7 · 0⤊ 0⤋
Mitchr has the right idea. Your town must have had a reevaluation of all property. Whenit was completed the values may have been set on equivalent market value. So the property tax was probably set at 1/3rd of market value at the established mill rate.
2007-11-07 16:47:09 · answer #2 · answered by googie 7 · 0⤊ 0⤋