As the epidemic created a frenetic housing market, many homeowners have experienced a sharp increase in the value of their properties. Rising home prices are reason for celebration if you anticipate making significant profits when you sell your residence.

When you receive your property tax statement, though, you might not feel like celebrating. Property taxes also increase in tandem with home prices. The assessed value of your home is multiplied by the local tax rate to determine your tax bill.

As communities reassess property values, homeowners will pay higher taxes in 2024 and beyond. That is why it is more important than ever to assure you are not being over-charge.