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BeltwayBlips Member Blog
My latest Examiner column. With housing values tanking, taxes based on that value ought to be going down as well, right?
I had a conversation with a tax assessor in a neighboring county last week on this topic. Home values had been increasing more rapidly than the maximum annual tax increase allowed by state law for several years. Now, even though home values are decreasing, they’re still valued higher than their current tax assessment. So their taxes are going up.
Good point, Phil, but I assume you wouldn’t petition for a reassessment unless you knew the oppostie to be true.
A big reason why property taxes are terrible.
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