Hopefully the city will lower its mill rate by the same amount.
One really needs to state increases in terms of %. My 2 properties went up 26% and 31%. So over the 4 year phase in period they want 6.5% and 7.75% more annually.
Essentially that requires an annual increase of around 12% gross income (before tax) to stay even at those rates. The only bright side is that the current economic climate will sink recreational property values that can tank for long periods of time unlike residential properties.
During the last 3 years I have asked for 6 Requests For Reconsideration all of which have resulted in changes. However, I needed to file appeals in each instance because MPAC would never come to the table prior to the deadline. You get your $75. fee back if you settle, but not if you win an appeal. Figure that out.
It's called state to municipality downloading and it all got started by Christine Todd Whitman then Governor of New Jersey. Mike Harris hired the very ppl that she used to advise him on how to do it. That is: run for office on a platform of low taxes, but knowning that the shortfall in revenue will be download to the municipalities. Hence increased property taxes.