We estimate that taxes will increase about 4-6% on average due to this increase in values.
Put differently - for every $100,000 of a home's value, the owner will see about a $104 annual increase in their property taxes, on average, due to a 34% increase in value.
The tax impact of the new values will vary from property to property and from community to community. But as a rule of thumb:
- If your property’s value increases more than most other properties in your community, your taxes may increase more than 4-6%.
- If your value goes up about the average amount for your community, your taxes will increase about 4-6%.
- If your value increase is less than the average value increase for your community, your taxes may go up less than 4-6%.
You can look at our Neighborhood Viewer tool to find your property's value increase as well as your community's average value increase.