A valuation update may result in an increase or decrease of individual assessments, but it does not mean that all property tax burdens will increase.
Please remember, assessments are only the base that is used to determine the individual tax burden of each and every taxable property. The overall operating budget, which is the amount that the municipality must raise to operate the local government and support the many services each of us has come to expect such as schools, police, etc. is what truly affects individual property taxes. For example, if the overall operating budget is the same both before and after revaluation and each assessment doubles, the tax rate would merely be cut in half.