Yes and no. It all depends on what ag lime you use. If you were to use dolomite lime the PH will rise still. If you use calcium carbonate it will bring the PH down to 7.2 - 7.5
Why you may ask? its because calcium carbonate has a buffer capacity in it to balance the PH and keep it stable. The extra magnesium in dolomite lime will not allow the PH to drop to keep it high. There is very little buffer capacity in dolomite lime.
You can't screw things up with calcium carbonate lime. Only if the product is a very fine mesh and has natural calcium hydroxide in the source.
Cheers Don.
Don, your saying the above about dolomite and calcium carbonate always confuses me as to how, chemically, the outcomes stated could occur.
Pure Calcium Carbonate has a pH of 9.4. Dolomite is mainly Calcium Carbonate, along with varying percentages of Magnesium and other minerals. Magnesium Carbonate pH, more particularly the most common form of salt named Magnesite, is more unclear, is insoluable in water, but if made soluable has a pH around 10+.
Both Calcium Carbonate and all forms of Magnesium react with, and "buffer" acids. Magnesium Carbonate, is most commonly called "chalk".
I guess what confuses me is that both Magnesium and Calcium Carbonates require extreme heat, or an acid to change forms. Buffering, or being a "buffer" refers to the ability to neutralize an acid, so how can Calcium Carbonate "lower" a higher, more alkaline, solution?
Interesting reading on the needs and relationships between calcium, magnesium, pH and alkalinity, though geared toward saltwater reef growers...
A Simplified Guide to the Relationship Between Calcium, Alkalinity, Magnesium and pH