How are property taxes calculated in... New Zealand.<p>1 The local government sets their budget.<p>2 Then a valuing company sets property values once every 3 years based on permits and local sales.<p>3 Then the mill rate (property tax percentage) is set at a rate to clear the budget.<p>Tax rates are stable as property prices increase.  The only thing that wouldn&#x27;t be under your democratic control would be if your neighborhood suddenly became very desirable, changing your house price substantially while leaving other areas unchanged.<p>If you cannot afford the tax bill, there are programs for low-income or retired persons to get debt forgiveness.