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Property values are plummeting daily. Yet the rate of property taxes are steadily increasing.
Not here. We vote on property tax increases. It's a fight to get a tax issue on the ballot, and then a fight to actually win it.
I always vote "yes" for the Cincinnati Zoo and the Hamilton County Board of Mental Retardation and the County Park Board, "no" against school levies and all other social programs.
It usually isn't a fight to get a tax decrease on the ballot. That doesn't happen in the city, but it does in townships and villages in the county.
Quote:
Originally Posted by JDubsMom
Despite plummeting values, assessor have not scheduled an interval reassessment to reflect the current market/price decline.
Why would they? You can't have it both ways. Do you want them to schedule an interval reassessment if your property values rise?
There was a township here where an acre of land sold for $2,200 but not even 3 years later it was $26,000 an acre. That's a shock for those on a fixed income.
Quote:
Originally Posted by JDubsMom
If we use your analogy, those who sell their properties at a loss would be due a tax refund at the time of closing.
I never suggested that. What I said was that if you sell your home for far more than the tax appraisal, you aren't assessed additional taxes, so no, you definitely don't get a rebate if you sell it for less than the assessed value.
Again, you can't have it both ways, which is basically what you want. If your property value you drops, you want them to waste lots of tax payer dollars to rush out and reappraise your property so you pay less taxes, but if your home increases in value, you don't want to see the tax assessor until the interval period is up.
The assessed value of homes all over America have dropped like crazy. In 2009, local governments are going to be in terrible financial shape unless there is a political will to raise taxes. In some communities, they are talking about cutting the budget for schools, parks, police, fire, roads, etc, as much as 20%.
Because the assessed valuation of the homes has gone down so fast, would you agree to a large tax rate increase to keep city or county services up to 2008 levels?
Here where I live the property taxes went up this year. My house assessed at about 10,000 more than last year as well as the market value. If I could get to the assessment, which is downstairs, I could tell you exactly.
I wish they had gone down, because my income sure dropped like a rock this year.
Not here. We vote on property tax increases. It's a fight to get a tax issue on the ballot, and then a fight to actually win it.
I always vote "yes" for the Cincinnati Zoo and the Hamilton County Board of Mental Retardation and the County Park Board, "no" against school levies and all other social programs.
It usually isn't a fight to get a tax decrease on the ballot. That doesn't happen in the city, but it does in townships and villages in the county.
Why would they? You can't have it both ways. Do you want them to schedule an interval reassessment if your property values rise?
There was a township here where an acre of land sold for $2,200 but not even 3 years later it was $26,000 an acre. That's a shock for those on a fixed income.
I never suggested that. What I said was that if you sell your home for far more than the tax appraisal, you aren't assessed additional taxes, so no, you definitely don't get a rebate if you sell it for less than the assessed value.
Again, you can't have it both ways, which is basically what you want. If your property value you drops, you want them to waste lots of tax payer dollars to rush out and reappraise your property so you pay less taxes, but if your home increases in value, you don't want to see the tax assessor until the interval period is up.
Unfortunately, certain cities that share a county with suburbs (such as Chicago, Cook County) forces their debt upon the suburban counties against their will. Recently Chicago (illegal alien sanctuary with tons of corruption and perpetual budget issues) increased their sales tax rate to 10.25%, the suburb nearest to them attempted to de-annex. Unfortunately, their referendum failed and the result is all of the business owners in Cook county are losing a lot of money as former customers leave the county to make major purchases in order to avoid the highest sales tax in the nation. I no longer live in Cook County I moved more than 5 years ago. I am just stating what is going on there, contributing to the rise in foreclosure rates and why people are fleeing that county and many others in the same predicament.
I'm not trying to have anything "both ways" I was merely making an observation/comment about property values decreasing in many areas while the taxes are increasing. It appears it is the county governments who are guilty of "having it both ways"
The assessed value of homes all over America have dropped like crazy. In 2009, local governments are going to be in terrible financial shape unless there is a political will to raise taxes. In some communities, they are talking about cutting the budget for schools, parks, police, fire, roads, etc, as much as 20%.
Because the assessed valuation of the homes has gone down so fast, would you agree to a large tax rate increase to keep city or county services up to 2008 levels?
Here in Texas..ours went up and city budgets for next year went up as well.
Those cities experiencing quickly declining values need to do their own house cleaning and not rely on the other states to subsidize them.
I'm not trying to have anything "both ways" I was merely making an observation/comment about property values decreasing in many areas while the taxes are increasing. It appears it is the county governments who are guilty of "having it both ways
But property values have no effect on county sales tax. I can sympathize since I live in the city and the county forced two sports stadiums on us and raised the sales tax. The solution to that is for me to walk 45 minutes across the river, shop in Kentucky and ride the bus back. It's sometimes a hassle, but I only need do it once or twice a month.
Around here, we have incorporated and unincorporated townships that effectively have no governments, yet they provide security, safety, education and infrastructure maintenance (like snow removal), and its' done through property taxes.
Eliminating property taxes would force them to expand what little government they have in order to collect income taxes, which would have to be raised to offset the lost of revenues derived from property taxes, or do without police, fire and education.
Around here, we have incorporated and unincorporated townships that effectively have no governments, yet they provide security, safety, education and infrastructure maintenance (like snow removal), and its' done through property taxes.
Eliminating property taxes would force them to expand what little government they have in order to collect income taxes, which would have to be raised to offset the lost of revenues derived from property taxes, or do without police, fire and education.
The state could provide police/law enforcement and road maintenance in small municipalities and unincorporated areas, getting revenue from sources other than property taxes. I'd personally eliminate public schools. I wouldn't want the government involved in my children's education if I had any anyways. Homeschooling, private schools (and also charities can fill the gap for the poor who can't homeschool or afford private schools) could replace public schools well. Fire departments? Lots of volunteer fire departments in my home state, and it works just fine. Property taxes are an infringement on a fundamental right. Namely, to own property (life, liberty and property as Locke said). As long as "your" property can be taken away for failing to pay rent (taxes) you don't own it. It's despicable that property taxes exist. Allodial title needs to be implemented.
But property values have no effect on county sales tax. I can sympathize since I live in the city and the county forced two sports stadiums on us and raised the sales tax. The solution to that is for me to walk 45 minutes across the river, shop in Kentucky and ride the bus back. It's sometimes a hassle, but I only need do it once or twice a month.
The key to reading is COMPREHENSION. Who said that there was a relationship between the two?
You keep twisting my words to suit your needs.
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