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Metropolitan DC Local Politics
Reply to "MoCo question A passed but B didn't. What does that mean for us?"
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[quote=Anonymous]OP, it means you will pay a stable property tax rate, which likely means your property tax bill will be slightly larger than it would be under the previous system. Basically your property taxes will now be a certain percentage of your assessed property value each year. That percentage will be stable unless the Council votes unanimously to increase it. Every three years the state assesses your property's value, so if that goes up, your property tax bill goes up. That is different from the previous system that limited how much your property tax bill could go up with a complex cap on total property tax revenues that is confusing to explain.[/quote]
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