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If assessments are not changing, does that mean property tax bills also will not change?

No. While assessments determine the portion of property taxes a property owner is responsible for, the actual amount of property taxes, per homeowner, is determined by the total budgets for each overlying taxing jurisdiction (local school district, Village, County, MMSD, and MATC). For example, if all property values stay the same, but the total budgets for each jurisdiction increased 3%, then all tax bills would increase 3%.

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