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If I win my tax appeal this year, will my savings next year be the same as they were this year?

Remember, your taxes are the assessed value of your property times the tax rate. So a 20% reduction in your assessment, for example, will be a 20% reduction in the property taxes you pay, no matter what the tax rate is next year. Remember that the tax rate for any municipality often does not come out until July or later of the tax year, so estimated billing based on the prior year’s tax rate is used for the first two quarters of any given tax year.

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