[palmer]

The most your home should be taxed on is what you paid for it.

I paid 390, currently worth about 220.

[Smokin' Joe]

Note, I said "the most". When I bought my home, before the current price insanity, I paid mid 5-figures for it. The last (annual, now) reassessment raised the value of the property by $500 less than the original purchase price, in one year, with no improvements to the property.

I recently received a notice that the mill levy will be increased by 15% (which, I am assured, "does not necessarily mean an increase in taxes").

If the property was taxed on its purchase price, those of us who have been paying in for a while (decades) keep paying at the same rate, roughly.

The area is growing, fast, and there is a lot of new construction. Property values have skyrocketed, whether or not you want to sell.

The new folks who get the new sewer and water lines, sidewalks, and streets, would pay more, because they paid more for their houses, commensurate with the increase in construction costs for the new infrastructure. Otherwise, those of us in the older part of town are buying infrastructure for people who just moved into houses allegedly worth multiples of what ours are worth, bolstering the value of their property while our streets wait for repairs.

[lakecumberlandvet]

Are you now paying property taxes based on the 220? Probably not.