Homeowners across the country
are challenging their property tax bills in droves
as the value of their homes drop
threatening local governments with another big drain on their budgets
If the City of Greensboro projected property tax revenues
to increase from $151,799,771 in 2008-2009
to $155,148,800 in 2009-2010
which comes to about a third of revenues…?
The tax appeals and reassessments
present a new budget nightmare for governments
…76 percent of large counties
said that falling property tax revenue
was significantly affecting their budgets
…officials across the country say there is no question
that the number of appeals has risen from the usual trickle to a flood
The recession has already taken a significant toll on states’ budgets
as rising joblessness, a weak business climate
and a drop in consumer demand have cut sharply into receipts
from taxes on sales, personal income and business earnings
The pain at the state level
is trickling down to county and local governments
The appeals are not just coming from individual homeowners
Condominium associations and entire subdivisions
are pushing for new tax assessments
as are companies that own office towers
industrial parks and shopping malls
Tax Bill Appeals Take Rising Toll on Governments
No comments:
Post a Comment