Monday, May 23, 2005

States target property taxes as home prices zoom (phillyBurbs.com)
Fred Pilot sends this. Add the HOA assessments on top of the property tax, for many folks. But there is no relief in sight for that "double taxation" situation.

"People are facing being taxed out of their homes," said Ted Harris, a 69-year-old retiree living on the Nevada side of Lake Tahoe, whose taxes climbed from $2,200 in 1990 to $12,000 last year. "Government simply swallows the money and finds lots of reasons to spend that money." From Texas to Illinois to Pennsylvania, lawmakers are weighing property tax caps, limits, exemptions and other ways to ease the burdens for homeowners - whose tax bills are the down slide of home values increasing. Proposals to change the system have become part of the gubernatorial campaigns in New Jersey and Virginia, the only states with governor's races this year.

No comments: