Why won’t my taxes decrease if my property value is going down?
Proposal A allowed many residents to pay property taxes on less than half of their market value by “capping” the taxable value, while still allowing the assessor to determine the market value by adjusting the SEV. This has caused, for many property owners, a great disparity between the SEV figure and the taxable value figure. The assessor can reduce the SEV to reflect the change in property value, but if the taxable value is still well below the SEV, it will keep increasing until the 2 figures meet. Taxes are based on taxable value; therefore, you will end up with a tax increase.

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1. When are my taxes due?
2. Does Canton accept credit cards for tax payments?
3. I need a copy of a paid receipt. Where can I get one?
4. Who receives the funds from my tax bill?
5. What do the terms "Assessed Value," "State Equalized Value" and "Taxable Value" mean on my Notice of Assessment?
6. How does the assessor determine my assessed value?
7. What determines the taxable value?
8. Property values in my neighborhood have been decreasing. Will my property valuation be decreasing as well?
9. Does that mean I’ll pay more property taxes instead of less?
10. Why won’t my taxes decrease if my property value is going down?
11. Will my taxes ever go down?
12. What are some of the disadvantages about the Proposal A legislation?
13. What is a principal residence exemption?
14. Can I contest my assessed value and taxable value?
15. How can I estimate my taxes from the assessment change notice?