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560 million dollar budget for a city of only 140,000 people!
Part of the issue is business has thrown in the towel over the incredible taxes in the city.
Most of it has to do with the terrible, overwhelmed public schools system as over 25% of the population is under 18 years old and according to the 2011 census figures a whopping 39% of children are below the poverty line.
Overall, it is a lose-lose situation with a poor public school system and seniors and long-time residents leaving in droves over the property taxes.
Last edited by lovecrowds; 10-11-2016 at 07:30 PM..
It's not just Bridgeport. The state of Connecticut is an economic basket case. The Mercatus Center of George Mason University ranked Connecticut dead last fiscally of all fifty states. Their politicians, governor and the CT media never saw a tax they couldn’t justify raising. Hell, GE left Connecticut to go to Massachusetts because of out of control taxes.
Raising property taxes every year to fund local government is a recipe for impoverishing the middle class, but liberals just keep pounding away on CT residents. But they keep voting Democrats in...so tough on them.
These are the same folks bent over by incredibly high housing prices and of course running into alternative minimal taxable income so they can easily run into a tax cap over their huge deductions for property tax etc.
Don't worry. I'm SURE Hillary or Trump will reduce this burden and push it onto the REALLY rich after the election...lol lol lol
Wow, I'm always amazed when I talk with people on the east coast paying exorbitant property taxes. In the case of Connecticut, they have a very high average income but people have to leave (not all but many) if they don't have a job or when they retire.
I did some comparisons to my house in a few places in Connecticut, NJ, & Penn and my property taxes are less than half what they would be back east. Because I'm far from Seattle, the house prices are also quite reasonable. Then when you add no state income tax, I think we are getting tremendous value in Washington state. I will note that Washington is a supposedly liberal state but with reasonable property taxes and no state income tax, I think we are economically conservative.
It is sad to see some cities huge property tax rates have made those cities unsustainable.
Downwardly mobile places like Bridgeport just keep making it worse for themselves by trying to sustain their bloated bureaucracies that in turn drive out business and upwardly mobile residents.
actually New Jersey has outrageous property taxes in the entire state. It used to be people fled from Philadelphia to get rid of the mess there for Jersey. Now Jersey is seeing an exodus.
Quote:
Originally Posted by American Expat
Wow, I'm always amazed when I talk with people on the east coast paying exorbitant property taxes. In the case of Connecticut, they have a very high average income but people have to leave (not all but many) if they don't have a job or when they retire.
I did some comparisons to my house in a few places in Connecticut, NJ, & Penn and my property taxes are less than half what they would be back east. Because I'm far from Seattle, the house prices are also quite reasonable. Then when you add no state income tax, I think we are getting tremendous value in Washington state. I will note that Washington is a supposedly liberal state but with reasonable property taxes and no state income tax, I think we are economically conservative.
It is sad to see some cities huge property tax rates have made those cities unsustainable.
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