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HOW ARE TAXES DERIVED?

derived taxes
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HOW ARE TAXES DERIVED?

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A. Taxes are derived by multiplying your assessed value by the various tax rates associated with your taxing district, such as county, town, schools, garbage etc… Taxes go up every year because the tax rates increase usually due to an increase in spending. If an assessment is lowered, than regardless of how much a tax rate increases the final taxes will be lower than they would have been at a higher assessed value. ASSESSMENT X TAX RATE = TAXES.

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