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Why are the taxes increasing when the property values are decreasing

Piano2man
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Piano2man

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Adams County Colorado

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May 08 - Thornton

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David Gibbons, "DavidG"
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David Gibbons, "DavidG"

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Zillow All-Star

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That's a great question to ask your property tax assessor - consider filing an appeal.

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May 08

Russell Croft, "Russell D. Croft"
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Russell Croft, "Russell D. Croft"

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The market value of your home may be falling, due to the large supply of homes for sale and the low number of buyers. Your property taxes are based on sale in area 18 months ago. Your homes market value may have been worth more 18 months ago than it is today

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May 08

MagicalHouse
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You still want schools, Fire, Police, etc. right? Well those costs have not gone down. To maintain the same amount of services you received before they must raise your property tax since your property value decreased they would not receive enough revenue using the old rate.