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I misread. State law set increases at 3% a year, not
Posted on: October 30, 2020 at 17:42:42 CT
TigerMatt STL
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including new assessments.
So if your property value doesn't change. Your tax rate will go up 3%. If the value does change, taxes could go up higher than 3% compared to previous year.
If a landlord increased rent to cover the 3% increase, and tenant claims they cannot afford this, then landlord has to pay relocation expenses or eat the 3%. Most likely they'd eat the 3% since they'd have to pay $2900-$4500 otherwise.
So if your property value doesn't change. Your tax rate will go up 3%. If the value does change, taxes could go up higher than 3% compared to previous year.
If a landlord increased rent to cover the 3% increase, and tenant claims they cannot afford this, then landlord has to pay relocation expenses or eat the 3%. Most likely they'd eat the 3% since they'd have to pay $2900-$4500 otherwise.
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I misread. State law set increases at 3% a year, not - TigerMatt STL - 10/30 17:42:42