Example of Credit on 2025 Tax BillSee below for an example of how Senior Property Tax Freeze Credit looks on your 2025 bill:Property Tax Freeze Credit on a $100k ResidenceExample calculated using the 2025 tax rate: Value and taxes before the tax freeze Market Value = $100,000 Assessed Value = 19,000 Total Taxes = $1,555 City Tax Portion = $276 Assume 12% increase in value due to reassessment Market Value = $112,000 Assessed Value after reassessment = 21,280 New Total tax amount w/out freeze = $1,742 City Tax portion = $309 Amount of Credit due to property tax freeze = $33 City taxes frozen at previous year’s amount of $276 $309 – $276 = $33 Freeze credit applies to City taxes only. Does not include Schools, Library, MSD, Zoo & Museum, etc. New Total Tax bill = ($1,742 – $33) = $1,709For the 2025 reassessment, a $100,000 property whose value increased by 12% would have been credited approximately $33.In the above example, the total tax went up less than it would have if the Senior Property Tax Freeze was not in place. Without freeze, taxes increase $187 With freeze in place, taxes increase $154 Taxes saved by the freeze, $33.  

Author