Property owners often grapple with the impact of fluctuating assessed values on their property tax obligations.
This comprehensive report provides historical data on both property values and taxes, dispelling the notion that a steep increase in assessed value automatically translates
into a substantial rise in property taxes. Furthermore, the report outlines how each taxing district benefits from the overall property tax revenue generated.
***Regarding the 2023 property tax calculation, this report outlines the School Savings component of property tax relief introduced in HB292.
However, it does not yet incorporate the property tax credits associated with the Homeowners Tax Relief (HTR) and the Additional Tax Relief (ATR) provisions of HB292***
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