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2020 City Wide Reassessment Information

The average assessment on a residential property in the City has gone up 32.33%.

So, if everything stayed the same as far as the mill rate, if your assessment changes by 32.33% your taxes should remain the same.

If your assessment change is greater than 32.33% you could expect to pay more in taxes, if your assessment changes less than 32.33% you could expect to pay less in taxes. A rough estimate could be the following examples:

Assessment change  40%      

Average change         32.33%

Change in taxes         7.67% more than the prior year

Assessment change  25%

Average change         32.33%

Change in taxes         7.33% reduction in taxes

 

Again, these numbers depend on the mill rate remaining the same as prior year. Mill rates change on an annual basis. The mill rate is made up of levies from the City, School District, County and Tech School.

Below are examples of changes to a home with a 2019 assessment of $100,000, using the percentages above and the mill rate remaining the same as prior year.

New assessment for 2020      $140,000

Average change                         132,333

Difference                                $    7,667

Additional taxes compared to prior year     $7,667 x .02521 = $193.29

New assessment for 2020   $125,000

Average change                       132,333

Difference                              ($   7,333)

Reduction in taxes compared to prior year    ($7,333) x .02521 = ($184.87)