After revaluation, will my tax bill stay the same?

Until the tax rate is set, the effect that revaluation will have on specific tax bills cannot be determined. State law requires local government officials to publish a revenue-neutral tax rate as part of the budget process. Revenue neutral is a budget term that means the revenue brought in by property taxes in a revaluation year would be approximately the same as if the revaluation had not taken place. Local officials are not required to adopt the revenue-neutral tax rate when they adopt the property tax rate, but they must publish it as part of their budget for comparison purposes.

In January, taxpayers will be able to see an estimate of how revaluation could affect property tax bills, based on revenue-neutral tax rates.