In the previous scenario, yes you would. The Taxable Value will rise by the inflationary increase. This adjusted Taxable Value figure multiplied by the local unit’s millage rate will determine your new property tax liability. The inflationary index for the past three years is as follows:
| 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 |
| 3.2% | 1.5% | 2.3% | 2.3% | 3.3% | 3.7% | 2.3% | 4.4% | -0.3% | 1.7% |
