Municipalities are mandated by the county to re-evaluate the values of all real property to achieve uniformaty of values. This provides that each property is assessed at the current value and will pay their fair share of property taxes. In markets where property values have decreased and many onwers are filling tax appeals. The municipality has the right to increase the tax rate in order to stabilize the income from propertry taxes to pay for city expenditures. It's a vicious circle. I will need your property address to more properly assess what affect the new rate will have on your property.
Thank you for your great question.