Why did my taxes go up so much this year?

There are several factors that affect your tax rate:

  • The Taxable Value of a property is adjusted each year based on the Consumer's Price Index (CPI). An increase in taxable value will result in an increase in your taxes.
  • A Millage increase will cause your taxes to increase. Your tax bill includes voter authorized Millage for City, County, State Education, miscellaneous school taxes, and other voter approved Millages. Your tax bill is based on your home's taxable value multiplied by the Millage rate.
  • You purchased a home. Proposal A, which was passed in 1994, places an annual cap on the growth of property tax assessments; however, when the home is sold, the cap comes off and the assessment reverts to the State Equalized Value (SEV) of the year following an eligible transfer of ownership.
  • You may not be taking advantage of the Principal Residence/Homestead Exemption.
  • You may have added something new to the property which in turn can increase both the assessed and taxable value of the property, i.e. central air conditioning, new deck or porch, new bathroom, new basement finish, new square footage, new shed, new garage, etc.

Show All Answers

1. Can I view my property and tax information, and pay my tax bill online?
2. Where is your office located?
3. What is the difference between the Assessed Value and Taxable Value of my home?
4. How is my Assessed Value calculated?
5. How is my Taxable Value calculated?
6. I just purchased my home. Shouldn't the assessed value be half of what I paid?
7. I recently purchased a home. Will my taxes on this property be about the same amount as the prior owner's taxes?
8. My neighbor and I have very similar homes. Why is my tax bill higher than theirs?
9. Why did my taxes go up so much this year?
10. What can I do if I disagree with the Assessed Value or Taxable Value placed on my property?
11. What if I am not satisfied with the Board of Review's decision on my appeal?
12. Do I need to notify the Assessing Department if I'm moving?
13. How do I change my name on my City of Marshall accounts?
14. Does the City calculate tax prorations?