The suit was based on an increase in the company's property assessment that occurred during the Vas administration.

The recession, he said, lowered property assessments, diminishing the tax base further.

Our taxes are now based on yearly property assessments along with increases in school district class rates.

Lawyers for the districts said they were primarily those with total property assessments of less than $100,000 each.

Commercial property assessments also take into account income streams and the expense of running a business.

Multiple lawsuits regarding the mall's property assessments have been ongoing since 2005.

The average homeowner will have to pay $33 more but that is on top of a $50 increase as a result of higher property assessments.

Governments often use such libraries to maintain current records of construction and in conducting property assessment.

Real property assessment will increase, and so will tax revenues to the city.

While the rate cut may not mean lower tax bills for everyone, it will help offset soaring property assessments, officials said.