From Realtor Magazine Online, Daily Real Estate News January 5, 2009
Politicians all over the country are preparing legislation in response to angry homeowners who are demanding property tax rollbacks even as municipalities move to raise those same taxes.
State government in New York, Georgia, Oklahoma and Wyoming are about to consider proposals in their 2009 sessions to put the brakes on property tax increases.
Indiana already enacted a cap on property taxes and is considering a state constitutional amendment that would permanently cap property taxes at 1 percent of the property value.
Florida last year amended the state’s constitution to add property tax-related amendments. Citizens groups in Nevada and Arizona are working to get the same sort of measures on the ballot.
In New York, Gov. David Paterson is supporting a 4 percent statewide cap on property-tax increases.
"People are just astounded that this year, of all years," the assessed value "of their property has increased," said Georgia Rep. Larry O'Neal, a Republican and chair of the state’s House Ways and Means Committee.
Source: The Wall Street Journal, Jennifer Levitz (01/05/2009)
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