Quote:
Originally Posted by SilverOne
it sounds like only the property owners are going to have to pay, not the whole populace. If I owned property in Chicago I would sell and move lock stock and barrel
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Assuming you CAN sell, for any amount of money, in a collapsed housing market while competing with foreclosures that continue flooding the market.
And in a place with high and increasing property taxes, how many buyers are dumb enough to buy there as opposed to elsewhere?
This problem of extremely high property taxes, combined with an almost non-existent housing market, has the potential to bankrupt literally millions of people across the country--even those who have always been prosperous. We have to stop our governments from taking everything we have, and they are definitely deaf to our cries.