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One of the huge growth areas in a recessionary time has been employment in local and state government. Even though tax revenue has been going down the government sector has been adding employees like crazy. This will end in 2009 as new property tax assessments will show local governments that they have to cut their budgets to a bone. This will cause huge layoffs in local governments. The rapid decrease in employment and sales tax revenue is causing a funding crisis in state government which will cause huge layoffs also in 2009.
Are you ready for a 10% unemployment rate in your community?
That isn't true. Not every state/county/municipal government conducts property tax evaluations on commercial or residential property annually.
Where I live they're done every 6 years.
But you can protest your assessment when the preliminary bills go out.
If homes have lost value and people have tightened their belts due to high costs..you just may see more people protesting their assessment for a lower value hence a lower property tax bill.
One of the huge growth areas in a recessionary time has been employment in local and state government. Even though tax revenue has been going down the government sector has been adding employees like crazy. This will end in 2009 as new property tax assessments will show local governments that they have to cut their budgets to a bone. This will cause huge layoffs in local governments. The rapid decrease in employment and sales tax revenue is causing a funding crisis in state government which will cause huge layoffs also in 2009.
Are you ready for a 10% unemployment rate in your community?
But in some states, such as Texas and Oklahoma property values are steady to going up.
But in some states, such as Texas and Oklahoma property values are steady to going up.
In Texas 2007 values were used for 2008 taxes. Next year we may see lower values and lower taxes. At least here in Travis county (Austin area) the tax assessors have said as much. We have pockets of real estate here that rode the boom and are now coming down in value.
Government layoffs is music to my ears. We need to just kind of go through all our government bureaucracies and layoff about every other person on the payroll. We will then give every remaining manager twice as much work to do and then fire the ones who can't keep up.
Its not music to mine my main career focus is forensics and most labs iv called around to keep mentioning this "freeze" guess no one knows when it will end huh?
If you understand the writings of Adam Smith, 'wealth of nations', and follow either the chicago or austrian school of economics, the elimination of one public sector job creates two in the private sector. The reasoning behind this is one the taxpayer keeps more wealth for himself, creating more capitol for investment which in turn will be spent amongst the fellow citizens creating a need for goods and services which in turn leads to job creation.
This is basic economic theory here folks practised for millenia and aptly described as the parable of the broken window by Frederic Bastiat.
Have you ever witnessed the anger of the good shopkeeper, James Goodfellow, when his careless son happened to break a pane of glass? If you have been present at such a scene, you will most assuredly bear witness to the fact, that every one of the spectators, were there even thirty of them, by common consent apparently, offered the unfortunate owner this invariable consolation—"It is an ill wind that blows nobody good. Everybody must live, and what would become of the glaziers if panes of glass were never broken?" Now, this form of condolence contains an entire theory, which it will be well to show up in this simple case, seeing that it is precisely the same as that which, unhappily, regulates the greater part of our economical institutions. Suppose it cost six francs to repair the damage, and you say that the accident brings six francs to the glazier's trade—that it encourages that trade to the amount of six francs—I grant it; I have not a word to say against it; you reason justly. The glazier comes, performs his task, receives his six francs, rubs his hands, and, in his heart, blesses the careless child. All this is that which is seen. But if, on the other hand, you come to the conclusion, as is too often the case, that it is a good thing to break windows, that it causes money to circulate, and that the encouragement of industry in general will be the result of it, you will oblige me to call out, "Stop there! Your theory is confined to that which is seen; it takes no account of that which is not seen." It is not seen that as our shopkeeper has spent six francs upon one thing, he cannot spend them upon another. It is not seen that if he had not had a window to replace, he would, perhaps, have replaced his old shoes, or added another book to his library. In short, he would have employed his six francs in some way, which this accident has prevented.
Remember the little boy represents the government, and the glazier represents government employees.
One of the huge growth areas in a recessionary time has been employment in local and state government. Even though tax revenue has been going down the government sector has been adding employees like crazy. This will end in 2009 as new property tax assessments will show local governments that they have to cut their budgets to a bone. This will cause huge layoffs in local governments. The rapid decrease in employment and sales tax revenue is causing a funding crisis in state government which will cause huge layoffs also in 2009.
Are you ready for a 10% unemployment rate in your community?
Having goverment layoffs is always beautiful music to any freedom loving people. Maybe the federal goverment will take notice and start to do the same thing, but somehow I doubt it very much. I look to the federal goverment to ever be adding to the federal machine of oppression and servitude to the same.
This will end in 2009 as new property tax assessments will show local governments that they have to cut their budgets to a bone.
Doesn't matter where the tax reevaluations come in. Down 50%, simple increase the tax rate by 100%, they break even, and typically they will likely raise the tax rate 110%, at least the greedy bastards here will
Since states don't collect property taxes, they will just dream up some new taxes, and increase others. Bend over and bring your own lube, neither care enough about you to provide any lubricant.
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my main career focus is forensics and most labs iv called around to keep mentioning this "freeze" guess no one knows when it will end huh?
