Market conditions over the past 5 years have caused values to increase at higher rates than usual. A common misperception is that an increase to assessed value leads to increases in taxes. In fact, your new assessment cannot be used to increase or decrease budgets for tax purposes. In the case of the market update this year, all new assessments (by nature of math) will decrease the mill rate. So if you are within close to the community average of 41% your taxes should stay about the same as last year.