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A taxing issue - even if you don’t plan on selling - you are being effected by the Foreclosure Market
By robertearl | April 25, 2008
Faced with revenue shortfalls, local governments across the U.S. are raising property-tax rates, angering homeowners already hit by the housing slump and economic slowdown.
In the meantime, flat assessments and rising rates add up to higher bills for many. Arlington County, Va., recently raised its property-tax rate 4% in part to cover retiree health benefits.
THE SQUEEZE (wsj.com)
• The News: Local governments are raising property taxes to fill revenue shortfalls.
• The Cause: Rising fuel and health costs hurt municipalities, which count on property taxes for 40% of their revenue.
• The Effect: Homeowners see tax bills rise even as their houses may go down in value.
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