The 'Perfect Storm' For Property Taxes

Faced with revolts by homeowners, legislatures from Maine to Nevada are coming up with possible fixes.

1 minute read

June 8, 2005, 5:00 AM PDT

" 'Almost every state is looking at some form of property-tax cap,' says Myron Orfield, an expert on property taxes and a law professor at the University of Minnesota in Minneapolis. 'It's a 'perfect storm' for property taxes: There are rapidly increasing home values while states are not keeping up with their contributions to school districts.'

... The talk of a real estate bubble is causing additional angst because many homeowners are afraid that their taxes may be based on a market value that no longer exists."

Thanks to Chris Steins

FULL STORY: States try to ease property-tax rise

Tuesday, June 7, 2005 in The Christian Science Monitor

Government / Politics United States

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