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A comment on U.S. mortgage interest rates jump to 7.16%, highest since 2001. Parent comment

Re:U.S. mortgage interest rates jump to 7.16%, highest since... by not_the_fda on Wednesday October 26, 2022 @12:44PM (#33346255)
Thats not how property taxes usually work. Most municipalities set a millage rate based on how much revenue they want. If property values decrease, the millage rate goes up. If all property went down 30% the millage rate is adjusted accordingly to hit the revenue target.
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