This is both good news and bad of course. The bad news is that we have tax bills to pay around Christmas time! LOL
It is good that we are getting the bills though, because as you know taxes started being our responsibility as soon as we moved in and so the amount has been collecting over that time until the City got its act together and issued our bills. You need to pay the bill you just received and then ensure you start saving for the ongoing amounts. If you look at your assessment for 2014 and multiply that by the city tax rate of 0.00939605 you will know how much to save each month for next years taxes.
Arguably, this is better than some new places where you do not get a bill for a year or more and then have to try to pay that back tax and your regular taxes all at once.