Lake Sinclair Topics: Property taxes 101?

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	Name:	Osms -
	Subject:	Property taxes 101?
	Date:	5/4/2007 11:55:14 AM

I know everyone is smarter than this, com'on. Your 100% increase in "appraisal" does not automatically translate into a 100% tax increase. And an increase in tax appraisal does not help your portfolio one bit. The "millage rate" sets the tax rate in combination with the appraisal (assessment = % of appraisal used to tax) to determine the cash you have to pay up to the county. If the county has a 50% increase in appraisal value countywide, but only has a need for 10% more money for the year then they should adjust the millage to reflect the actual 10% additional needed.

Do the governments need the windfall they receive from the re-appraisal--NO. But if you don't hold their political feet to the fire they'll sure take it. Hopefully, some of you understand this--the county commissioners, the cities, and the school districts set the millage rates.