Primary Residence Credit?

[tikkalover]

It’s a maximum of 3% on your current property tax. BUT they take the value up on your property to get the extra taxes they want for the upcoming year. There are no laws in place say that they can’t increase your property value.

 

[Obi-Wan]

My property taxes went from 1,000 a year to 5,000 since 2020....where does it stop?

With a yes vote

 

[eyexer]

It’s a maximum of 3% on your current property tax. BUT they take the value up on your property to get the extra taxes they want for the upcoming year. There are no laws are in place say that they can’t increase your property value.

So in a nutshell they can only increase what you pay by 3% each year. That’s how I understood it. Doesn’t matter what they do with your valuation they can still only raise “what you pay” by 3%

 

[Twitch]

So in a nutshell they can only increase what you pay by 3% each year. That’s how I understood it. Doesn’t matter what they do with your valuation they can still only raise “what you pay” by 3%

Pretty sure the 3% doesn’t apply at all to increases in home valuations, so that’s how they’ll continue to raise your liability without “raising property taxes” more than 3%

 

[eyexer]

That’s all a moot point if they can’t raise what you owe from year to year by more than 3%. They can raise your valuation by 100k but it will only increase your tax 3%

 

[Wally World]

That’s all a moot point if they can’t raise what you owe from year to year by more than 3%. They can raise your valuation by 100k but it will only increase your tax 3%

Keep telling yourself that and then check this years new tax statement! Do some research and you may find that the 3% Cap is not for individual homes but for the local taxing entity. as per House Bill 1176 passed in 2025. Your neighbor's house could go up 1% and yours could go up 5% to be in compliance with the new law as long as the total is capped at 3%. That's why I said earlier that you better go buddy up to the taxman. That's how the system works!

 

[Twitch]

Yep that’s how I understand it as well