Keeping the mill rate at 25.99 for the second straight year means taxpayers will again pay $25.99 on every $1,000 of assessed value.
The assessed value is 70 percent of a property’s market value as determined by the revaluation from Oct. 1, 2007.
That means, for example, that if a house is assessed for $150,000, the tax bill would amount to $3,898. For a house assessed for $200,000, the tax bill would be $5,198.
Since last year’s mill rate followed revaluation, it’s difficult to compare across the years.
In 2007, the mill rate was 34.71 -- but that was equivalent to 24.95 post-revaluation. So last year’s rate property tax hike equaled a 4 percent increase.
This year’s freeze, of course, merely locks in place last year’s tally, leading to property tax bills that should equal those of last year, at least on real estate.
Since vehicle values change, the tax bills for older models should go down.
Copyright 2009. All rights reserved.
Contact Steve Collins at email@example.com