"Just because your house might be valued 22% higher, it doesn't mean you have 22% more dollars or are receiving 22% more services. When local governments set their spending budgets, that should have nothing to do with the value of your house."
This action-packed episode of ITR Live is sure to entertain as we talk about crazy Uber rides, one-of-a-kind BBQ, and the thrilling, action-packed, heart-pounding agenda of a state think tank policy conference.
The gang also talks about recent headlines focused on an upcoming round of real estate assessments for properties in Polk County. The Polk County assessor estimates that residential assessments will increase by 22% next year.
An increase in assessment should not equal an automatic increase in property taxes. As much as people want to fight their assessment, and there is an appeal process to follow, make no mistake, the reason your property taxes go up is based on the dollars your local city, local county, or local school district chooses to spend. It is not the assessment.
If you aren't enthused about the corresponding increase in your property tax bill, who is to blame? What can you do about it? What can the legislature do about it?