Northwest Herald | Analysis: As values fall, property tax bills expected to rise

All of this is equally true of Boone County.

Area taxpayers are in for a rude awakening in 2011 if they believe that their property tax bills will shrink along with their equalized assessed values. In fact, the effect of falling EAVs under the Property Tax Extension Limitation Law, or PTELL, is that property tax rates are expected to increase across the board, local tax experts said.

current tax cycle, the rate of inflation has been established at 2.7 percent….Districts can raise their levies – which is the total amount of money they seek to capture from property taxes – this year by 2.7 percent, as well as capture new growth….

Because they are requesting more money and equalized assessed values are down, tax rates will rise to make up for the difference.

Northwest Herald | Analysis: As values fall, property tax bills expected to rise