Friday, February 5, 2010

Property tax issues are surfacing around the nation.

Last Saturday's Weekend Edition of the Wall Street Journal noted that Indiana is wrestling with rising property taxes and the homeowners are protesting at tea parties. The mayor of Indianapolis was ousted in 2008 because of increased property taxes on residential properties.

Under consideration now is a change in the property tax laws limiting property taxes to 1% of the assessed value. Business at 3% of the assessed value.

In Iowa the legislature is telling its local school districts that the district must exhaust cash reserves before and property tax raises can even be considered.

Sound familiar? The Colorado legislature will be wrestling with these issues this year as it tries to figure out what to do about the fiscal crisis.

Bring on the alligators.

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