Property Taxes Go Down
The value of the property, unpaid property taxes are covered by a state program, and banks are paying taxes on foreclosed homes. The county gets hammered, and not just for the short term, but a transform financial picture for many years to come. It will cause long term reconstruction of county government and employee costs. A preliminary report…now indicates that home values have declined more rapidly and deeply than projected…this erosion will reduce revenues available to fund upcoming budgets. Property taxes account for 75% of discretionary budgets. However, verify the tax amount you pay according to the value of your home. If property value goes down so does the tax amount due.