Tax assessments: Stealth that doubles
your tax increases
How your real estate taxes are
If your home is currently assessed for $100,000
and the current tax rate is $1.22 per hundred
, your current annual bill is $1220.00.
This is figured by dividing $100,000
by $100 which equals 1000
You then take the current tax rate of $1.22
and multiply it by 1000 which equals
$1220... your tax bill, which is
paid in two parts to the city treasurer.
The formula: $100,000 ÷ 100 = 1000 x
$1.22 = $1220.00
Now here is the interesting part...
If the city’s real estate assessments
increase above 1% in any given year, the city by law is supposed to
reduce the tax rate for the upcoming tax year so that such
increases amount to no more than 101% of the previous year's real
property tax levies.
Using the example above, it means your new tax assessment bill should
read like this:
$100,000 @ $1.22 per hundred = annual tax bill of $1220
$106,000 @ $1.15 per hundred = annual tax bill of $1220
[NOTE: The State code is available by clicking here: Real
estate assessment code
You have just read what is supposed
But this is what the tax and spend council actually does:
During approval of the budget, the city council will reauthorize
the tax rate, that is increase it upwards from the state-required
reduced rate, back to the current higher rate.
The result? A double whammy! Double taxation in one
fell swoop! Your assessment goes up, the tax rate goes up, and you
have just allowed the cost of government to go up.
This is what the council
plans to do to raise taxes
New city council assessment: $106,000
@ $1.22 per hundred = annual tax bill of $1293.20
This is the stealth tax increase the
council puts over on the public to keep itself awash in cash to give
away to ex-convicts and other questionable corporations in
This repeats itself year, after year, after year as long as the
upcoming year's assessment exceeds a 1% increase over the current year's
The council must give public notice and hold a public hearing, but
few if any citizens appear to protest this double
EDITOR'S NOTE: If you have any questions on calculating your taxes
email them to Editor
for a personal response and assistance.