Comments by "Jeffrey Deuitch" (@jeffreydeuitch2146) on "$328 BILLION in Property Tax Set to SKYROCKET in 2022 (2023 Foreclosure PEAK)" video.

  1. Let's not forget about higher insurance rates given the higher replacement cost that has evolved in last couple years. Tax and insurance is the 1-2 punch for those already underwater or struggling.
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  2. Assessment changes are generally done by a computer model. The process is call mass appraisal. In some jurisdictions this is done on an exact day of the year. Usually only part of the total bill is advalorum. The rest are fixed fees due to special assessments or other arrangements. The actual rate can change if there is a shortfall of revenues for the local governmental budgets. Yes, that means that if assessments go down, the rate for the advalorum portion can be raised in order to generate sufficient revenue. In Florida, this is known as the roll back rate. If curious in your area, call your tax collectors office.
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