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Old 06-02-2004, 08:14 PM   #3
Skip
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Default Property tax facts.....

Quote:
Originally Posted by madrasahs
property taxes are subject to adjustment every ten years.
Incorrect....

A community can re-evaluate it's property inventory and adjust tax rates accordingly, even on an annual basis. Dover is an example of a number of communities that electronically adjust inventory on an annual basis while engaging in physical revaluations every five to ten years. The goal is to keep across the board values at 90% or better of fair market value.

Did the letter to your mother state that her property tax itself may double, or that the tax rate may double? There is a huge difference between the two terms and many people are confused by the difference.

It is hard to answer your question without knowing what community the property is located in.

If you could give us some further info, in particular the town and water the property is located on, maybe someone here could shed some more light on your mother's dilemma.
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