12 November 2005
The taxman cometh
I got my property tax bill today, and it was almost, but not entirely, predictable.
Under the 5-percent cap law, the assessed value can go up by a maximum of 5 percent per year, regardless of actual market value, unless there is a change in ownership or a substantial change in the property itself. And the market value, they estimate, has risen a little more than 11 percent this year; however, the assessed value has risen by wait for it 4.998 percent. (Remind me to hire these people next time I need hairs split.)
The actual tax, however, did not go up by 4.998 percent; the tax rate has dropped by a little more than two mills, though it's still slightly higher than it was for 2003. The actual increase is more like 3.7 percent.