Thirdslide

Does the City make more money when property values go up?

No, the City does not collect extra revenue as a result of the revaluation process.

The total combined general rates remains the same. The City determines rates by applying a rate in the dollar against the total value of the property. When the total value of all properties increase, the City adjusts the rate in the dollar to compensate. There is no windfall gain for the City.



Page last updated: Wednesday, 1 February 2017
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