How will my taxes change as a result of the new assessment?

Although the value of your property affects your share of taxes, the actual amount you pay is determined by the budget needs of the town and school. These will decide what services will be provided in the coming year and how much they will need to provide these services. Once this decision is made, a tax rate is adopted that will generate the needed dollars. Your property taxes are determined by multiplying the tax rate by your assessment. Tax Rate x Assessed Value = Taxes.