property taxes: Property Taxes Rising Suggests an Improved Economy - 10/07/15 09:11 AM
Property tax collections increased by 3 percent over the past year. Collections increased by 13 billion dollars to a total of 503 billion collected. The figures include both commercial and residential property taxes.
Property taxes might be rising thanks to improving home values. State and local governments might be re-appraising homes to raise their listed value. Whether it has happened enough in different towns and states to affect the national average is unclear.
Interestingly, property taxes have taken up a smaller percentage of total tax collections than in recession years. In 2010, property taxes held 44.9% of the total share whereas now they … (1 comments)