Assuming the assessed value of ….

Assuming the assessed value of a $100,000 home in the city did not change, this would have resulted in a tax decrease of $763.53. In reality, most properties increased in taxable value due to a city-wide revaluation to bring the assessed value in line with the fair market value of properties. The rate at which properties increased in value varied greatly even within individual neighborhoods. This makes comparing one year to another on a city-wide basis almost impossible.

Mayor Mike Wellner explained that the large increases in assessments were a product of the long span of time between citywide revaluations.

The drop in actual tax dollars for many residents was driven largely by a $648,566 drop in the city’s portion of the school district tax levy. This drop was due to the district paying off a significant part of its long-term debt last spring.