For most of us, taxes can be confusing. There’s quite a bit we don’t know and it got us thinking, we can’t be alone, right?
Property taxes are the main source of revenue for entities like local government + school districts. They fund libraries, courts, emergency medical services, jails + schools. Basically, a budget for each entity (ex: schools) is divided by assessments, creating the millage rate. Your property’s individual assessment times millage creates your tax bill.
So when are properties reappraised? The next reassessment program will in 2020.
Do you think your property is worth more (or less) than it was appraised for? If so, you’ll have to contact the tax office within 90 days of the assessment. If not, you’ll forfeit your right to appeal the valuation.
