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Tax Rates vs. Tax Bills <br />Rates are applied to taxable <br />assessed value <br />What makes my rates go up? <br />•Voter-approved new levies or levy-lifts <br />(i.e. RATE increase) <br />•A tax district’s budget grows faster than <br />the assessed value <br />What makes my rates go down? <br />•Levy reductions <br />(e.g. bond is paid off) <br />•Assessed value grows faster than a tax <br />district’s budget <br />Levy = Your tax bill <br />What makes my bill go up? <br />•My assessed value grows more than other <br />taxable properties in the district <br />•District authorizes a levy increase <br />(i.e. DOLLAR increase) <br />What makes my bill go down? <br />•Other properties in the district increase in <br />value more than my property <br />•New construction and improvements add <br />to total assessed value <br />•District reduces or eliminates a levy <br />7 <br />Page 14 of 21