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POSSIBLE RPT POLICY OPTIONS For large increases in values, the following options may be considered to mitigate their impact on real property taxes:

Option 1:

Adjust the assessment level

Option 2:

Adjust the tax rate

Option 3:

Phased implementation of the increase in the tax, e.g.:  1st year: 50% of the increase  2nd year: 60% of the increase  3rd year: 100% of the increase

Canned Presentation - SMV & Tax Reform Program  

SMV Revision Process & Local RPT Reforms C O M P O N E N T S 4 . 3 & 4 . 1 B  To introduce the application of the Standards on mark...

Canned Presentation - SMV & Tax Reform Program  

SMV Revision Process & Local RPT Reforms C O M P O N E N T S 4 . 3 & 4 . 1 B  To introduce the application of the Standards on mark...

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