Raising Property Taxes Lowers House Values
September 24, 2010 Leave a comment
The more the government taxes a house or other property, the less is it worth because a new buyer pays less (unless you are in a housing bubble and unless LeBron James is buying the house).
As local governments persist in increasing property taxes on residences as values are falling (they are still falling, by the way), the house value will fall even more. Also, the more you raise property taxes the more everyone is hurt except the wealthy.
(Now let’s see, who are financing candidates for public office?)
Draw your own conclusions.