Yet they’re raising the property tax assessments where I live. Thanks for nothing.
Here in Illinois they have "special" rates for seniors. When I turned 65 in June 2010, I promptly went to the county and got a really nice discount on my property tax, it came to approximately 35%.
Within 3 months, I received notice that my property had been reevaluated upward. Guess how much.
Yep, that's right but how did you know?
They are lowering property tax assessments where I live because an increasing number of savvy homeowners are challenging their tax assessments... and winning. So to prevent the bleeding of tax dollars our county is doing yet another re-assessment. This re-assessment will lower the assessed values but you can bet that it will be accompanied by a increase in the millage (rate). Net Change in taxes paid will be zero, and those that have already challenged will lose their saving going forward.