The bond will be repaid with funds generated by an increase to the property tax levy rate.The proposed increase is $0.63 for every $1,000 of taxable property valuation. The final debt service tax increase will depend on alternative funding such as grants, donations, and other city dollars allocated for the project. The final taxable value of your property is a percentage of its assessed value after credits. The median assessed residential value in Burlington is $97,084. For a home valued at $100,000, property taxes will increase $27.78 a year or $2.32 per month.