As if sinking property values and rising energy costs aren't enough to contend with, property owners across the country are being hit with increased property tax assessments.
The problem is two-fold: First, the assessed values are grossly outdated and do not reflect the average loss in value for the community. In addition, some local governments are increasing the tax rates on property owners to compensate for huge losses in investments and state aid.
These tax increases have a disturbing affect in that they actually lower the property's value even more. Read more....
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