venkman
Diamond Member
- Apr 19, 2007
- 4,950
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Originally posted by: RGN
Originally posted by: BHeemsoth
Originally posted by: venkman
With property tax revenue down due to falling property values, municipalities are putting increasing pressure on police to generate ticket revenue. This is only the beginning.
Property values as computed by municipalities are quite different from actual selling prices on the market.
Most municipalities have some form of a mathematical formula to determine value.
The current real estate market has no bearing on government determined property values.
Correct. Also, there are many localities that have no incoming revenue from property tax. The tax paid goes to the county and schools, not the local government.
I can't speak for everywhere, but I know that my parents' property tax bill was more than a $1000 less this year.