LFB: Property taxes would go up for median-valued home under guv’s budget, but less than current law

Under the guv’s budget, the property tax bill on the mythical median-valued home would go up $22 on December’s bill and another $63 the following year, according to a memo from the Legislative Fiscal Bureau.
Those increases are $4 and $8 less, respectively, than what would happen to that tax bill under current law.
The median-valued home was worth $197,200 and had a property tax bill of $3,315 on this past December’s bill, according to LFB’s estimate. The increase of $120 over the previous year amounted to a hike of 3.8 percent.
That same home is projected to be worth $205,600 for the next rou...

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