Real estate values may still be sinking, but tens of thousands of Orange County homeowners are about to get word that they still face a bigger tax bill. Property Appraiser Bill Donegan said the rude awakening should start arriving in the mail this weekend through Truth In Millage, or TRIM, notices. They are the annual heads-up owners receive showing how their assessed value and proposed tax rates compare with last year.
Overall property values in Orange shriveled by 2% from 2010, but because of a 30% school tax increase that voters approved last fall, all property owners likely face a bigger tax bill.
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