Assessed Property Values Increase Less Than Tax Levy

The amount of money extracted by the city through property taxes grew at an annual rate of 9.53% over the last five years while the total assessed value over the same period grew at a 7.52% rate. Let's look at the data.

Click chart to enlarge

Click chart to enlarge

Inquiring minds would like to know why the tax levy is increasing 2% more per year than the assessed value. Explanations welcomed!

It is also worrisome that the assessed value growth has dramatically increased since 2014. This is not sustainable!


Looking at the city budget growth over the last five years it is clear it not sustainable either without continued, significant tax increases until citizens rebel.

Click chart to enlarge

One can ask how the city's budget grow at 12.8% compounded annually while property tax assessed values are increasing at a 7.52% annual rate. The answer is simple; increased charges for city services like water and sewer, sales taxes, city fees and issuance of bonds! 

Perhaps it is time for citizens to demand a change in the city charter that limits the budget growth to population growth plus inflation. Stayed tuned!