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North of London | You are correct that valuations are just part of the picture.
On the other hand unless your department reduced their spending OR your municipality got a lot of new building your taxes would not have declined.
I suppose it could be that your valuation did not rise as much as others so they picked up more of the taxes and allowed your taxes to fall but if all valuations rose equally and spending remained the same there would be no net difference in the $ you would need to pay in taxes.
At least that is the way I see it.
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Valuations and Property tax
