Property taxes are beginning to rise
Property taxes are beginning to rise
Flickr / Rrrrred
This is what Jonathan Miller, appraiser with Miller Samuel in New York City, calls "the failure spiral," or when high and rising property taxes aren't consistent with the public services on offer.
"When a community is losing business, the tax base is eroding and the government is remiss to cut services," he says.
As a result, the government hikes property taxes to shift the burden from the commercial outlets to residents. "That way you're not cutting costs," he says.
Read more: http://www.businessinsider.com/10-signs-that-your-neighborhoods-property-value-is-declining-2012-3#ixzz3jFH7aqA7
Property taxes are beginning to riseProperty taxes are beginning to rise Flickr / RrrrredThis is what Jonathan Miller, appraiser with Miller Samuel in New York City, calls "the failure spiral," or when high and rising property taxes aren't consistent with the public services on offer. "When a community is losing business, the tax base is eroding and the government is remiss to cut services," he says.As a result, the government hikes property taxes to shift the burden from the commercial outlets to residents. "That way you're not cutting costs," he says. Read more: http://www.businessinsider.com/10-signs-that-your-neighborhoods-property-value-is-declining-2012-3#ixzz3jFH7aqA7
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