Ah very interesting. Big increases in BTV but I guess I still don't understand some of the tax stuff. Or maybe I do, ha... why would someone who saw their property assessment go up 40% see their taxes increase, but someone who say only sees a 30% increase would actually see their taxes go down? Is it because it's the same sized pie (the budget) and they are just altering the proportions? So if your home value rises but not quite as much as your neighbor's, you pay less and they pay more now assuming it was equal before?
"If the city budget is the same as the current one, people whose property values increased by more than 40 percent would pay higher taxes this coming fiscal year; those with smaller increases would pay less.... some high-profile names — including Mayor Miro Weinberger, whose Hill Section home went up just 29 percent — would likely see their taxes decrease."
Also interesting how they do commercial properties...I had no idea that commercial property was valued based on the amount of business it does. I thought it was purely a real estate valuation, not a valuation based on how the business is doing. So if your business was effected by COVID like BTV hotels (say the Hilton, Marriot, etc), your assessment is lower?
"On the opposite end of the spectrum, just 66 of the city's 10,400 properties lost value since they were last assessed. Many of those were commercial properties. The Burlington Country Club, for example, dropped nearly $1 million in assessed value. Hotels, too, saw marked decreases, losing a combined $13.3 million in valuation, largely due to travel restrictions and lost business during the coronavirus pandemic, according to City Assessor John Vickery.