What happens if my property value increases?

If the value of your property increases, your property tax bill will increase as well. This is because property taxes are based on the assessed value of your property, so a higher value means a higher tax bill for you. In Pennsylvania, the assessment value of your property is determined by an assessor appointed by the county government. They look at the fair market value of your property, and calculate your taxes, which are then collected by the county. The amount of your property tax bill will depend on what type of property you own and what county or municipality you live in. Property taxes are paid annually and the taxes are calculated based on the millage rate set by the municipality, which is determined by millage or the rate of taxation. If you believe that the assessment of your property is not fair, you can appeal the decision to the county board of assessment appeals, which will review your case and decide whether or not to change your property assessment. It is important to remember that if the assessment is revised and the value of your property increased, your property tax bill will likely increase as well.

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What happens if my property value increases?

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