From today’s Inman Blog –
“Side benefit of housing
bubble
From the New York
Post:
“Revenues from real-estate
taxes, which represent 44 percent of the city’s tax collections, are surging,
and not only because of the 18.5 percent hike that took effect in January 2003.
Market values also are way up, and with them the assessments to which the tax
rate — about $12.28 per $100 of assessed value — is
applied”.
Yep, real estate is
carrying the boat.”
“Side benefit of housing
bubble
From the New York
Post:
“Revenues from real-estate
taxes, which represent 44 percent of the city’s tax collections, are surging,
and not only because of the 18.5 percent hike that took effect in January 2003.
Market values also are way up, and with them the assessments to which the tax
rate — about $12.28 per $100 of assessed value — is
applied”.
Yep, real estate is
carrying the boat.”
At what point
is government going to be held accountable for their increased income? Are our
local services going to increase in value by a commensurate amount?
Interested in Learning More?
Jim Duncan has been helping buyers and sellers in Charlottesville’s neighborhoods for 25 years. Get local insight born of experience.
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