A city has new private development (not taxed in the prior year) and saw overall taxable property
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Question:
A city has new private development (not taxed in the prior year) and saw overall taxable property values increase by 7% city-wide. The city had a millage rate of 5.12 last year and is proposing a millage rate of 5.12 next year.
A) will this generate the same or more ad valorem property taxes over last year?
B) Would the city advertise the proposed 5.12 millage rate as a Notice of Budget Hearing or Notice of Proposed Tax Increase?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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