Coral Gables Joins Other High Tax Areas
November 24, 2010 Leave a comment
I guess there are few costs to having a so-called “quality of life.” This is becoming an illusion in cities like Coral Gables where government’s indifference to property tax impacts are making them less and less attractive over the long-run. Add to that big management and policy failures in city councils and city management, you will find that fewer and fewer people are willing to pay or can afford a quality-of-life premium.
Property tax collections nationally increased by more than 4 percent in fiscal 2008. They were up in all but four states, according to a Tax Foundation report issued in August. Florida, where home values have plummeted, saw the biggest increase in tax collections, 11.7 percent, followed by Indiana and New Mexico.