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Explainer: How property assessors affect your tax bill — and what they don’t do
Summary
An unidentified presenter explained that assessors determine property values but do not set tax rates or collect taxes. The talk described how assessors use comparable sales and property features to set valuations and why assessed values can change.
An unidentified speaker, identified in the transcript only as the presenter, explained that assessors determine property values but do not set tax rates or collect taxes. "Assessors don't set tax rates," the presenter said, adding, "Assessors don't chase tax dollars."
The presenter said property tax is produced by a formula in which assessors influence only one variable: value. Local governing bodies set budgets and then set tax rates to generate the dollars…
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