#property-taxes

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#housing-market

These States Slap Homeowners With the Highest Property Taxes

Buying a home is becoming unaffordable for many Americans due to high home prices and mortgage rates.
Property taxes are a significant financial burden for homeowners, with rates varying widely across states.

After Wu's 'dead' tax plan, readers are concerned about rising property taxes. Here's why.

Rising property taxes are a significant concern for Bostonians, as a failed proposal exacerbates worries for homeowners and renters alike.

High property taxes in Maine? Mayor says to consider a reverse mortgage'

The mayor acknowledges rising property taxes are a challenge for those on fixed incomes, suggesting a reverse mortgage as a last resort option.

These States Slap Homeowners With the Highest Property Taxes

Buying a home is becoming unaffordable for many Americans due to high home prices and mortgage rates.
Property taxes are a significant financial burden for homeowners, with rates varying widely across states.

After Wu's 'dead' tax plan, readers are concerned about rising property taxes. Here's why.

Rising property taxes are a significant concern for Bostonians, as a failed proposal exacerbates worries for homeowners and renters alike.

High property taxes in Maine? Mayor says to consider a reverse mortgage'

The mayor acknowledges rising property taxes are a challenge for those on fixed incomes, suggesting a reverse mortgage as a last resort option.
morehousing-market

Top local bureaucrats are pocketing big raises and benefits. Some taxpayers are fed up | CBC News

Municipal staff salaries and benefits in Ontario are skyrocketing, causing financial strain on local property owners.
#local-government

Homeowner's guide to 2024 ballot measures - including one state that could eliminate property taxes

Homeowners should weigh the implications of property tax ballot measures, considering both potential savings and the benefits of public services funded by those taxes.

From rent control to property taxes, here's how state housing ballot measures fared in the 2024 election

Rising home prices and property taxes are concerning homeowners, while commercial property declines emphasize the urgency for effective housing measures.

An Expert Reveals the 3 Biggest Things That Could Spike (or Slash!) Your Property Taxes

Property taxes are critical for funding local services and are calculated based on property size, location, and assessed value.

North Dakota Voters Reject Dramatic Plan To Eliminate Property Taxes-as Other States Embrace Caps

Measure 4 to eliminate property taxes in North Dakota was defeated due to concerns over funding essential services and lack of alternatives.

The Costliest Place to Own a Home in Every State

Property taxes are a critical source of local government funding that varies widely based on location and home value.

Homeowner's guide to 2024 ballot measures - including one state that could eliminate property taxes

Homeowners should weigh the implications of property tax ballot measures, considering both potential savings and the benefits of public services funded by those taxes.

From rent control to property taxes, here's how state housing ballot measures fared in the 2024 election

Rising home prices and property taxes are concerning homeowners, while commercial property declines emphasize the urgency for effective housing measures.

An Expert Reveals the 3 Biggest Things That Could Spike (or Slash!) Your Property Taxes

Property taxes are critical for funding local services and are calculated based on property size, location, and assessed value.

North Dakota Voters Reject Dramatic Plan To Eliminate Property Taxes-as Other States Embrace Caps

Measure 4 to eliminate property taxes in North Dakota was defeated due to concerns over funding essential services and lack of alternatives.

The Costliest Place to Own a Home in Every State

Property taxes are a critical source of local government funding that varies widely based on location and home value.
morelocal-government

East Village residents and pols rally to save garden amid auction threat | amNewYork

The beloved community garden at 198 East 7th St. faces uncertainty due to auctioning after the owner failed to pay property taxes, threatening local residents' lease.

House advances Wu's property tax proposal; Senate to debate it after Thanksgiving

Wu's proposed plan to raise commercial property tax rates aims to prevent large tax increases on residential property owners.
from Boston.com
1 month ago

Chef Barbara Lynch sued by Boston for $1.7 million in unpaid taxes

Chef Barbara Lynch faces a $1.7 million lawsuit from Boston for unpaid property taxes on her restaurants.

Where Are Property Taxes Rising the Most?

Property taxes have surged across U.S. metro areas, especially in Florida, driven by higher home values, population growth, and natural disasters.
#local-government-funding

Ballot questions tackle high property taxes that come with rising home values

Property tax ballot measures may lead to cuts in public services across several states, particularly in Colorado.

North Dakota voters reject dramatic plan to eliminate property taxes-as other states embrace caps

The proposal to eliminate property taxes in North Dakota was defeated due to concerns over funding essential services.

Ballot questions tackle high property taxes that come with rising home values

Property tax ballot measures may lead to cuts in public services across several states, particularly in Colorado.

North Dakota voters reject dramatic plan to eliminate property taxes-as other states embrace caps

The proposal to eliminate property taxes in North Dakota was defeated due to concerns over funding essential services.
morelocal-government-funding

Election 2024: Homeowner's Guide to Ballot Measures-Including One State That Could Eliminate Property Taxes Altogether

Voters in several states will consider ballot measures impacting homeowners, particularly related to property taxes.
#proposition-5

Opinion: Proposition 5 would turbo-charge tax hikes, increase local debt

Proposition 5 threatens to raise property taxes and revert to pre-Proposition 13 conditions, endangering homeowners' finances.

Voters Turn Down Prop 5, but Some Local Bond Measures May Pass Anyway | KQED

Proposition 5 aimed to reform property tax laws established by Proposition 13 but faced opposition over concerns about new property taxes impacting vulnerable homeowners.

Opinion: Proposition 5 would turbo-charge tax hikes, increase local debt

Proposition 5 threatens to raise property taxes and revert to pre-Proposition 13 conditions, endangering homeowners' finances.

Voters Turn Down Prop 5, but Some Local Bond Measures May Pass Anyway | KQED

Proposition 5 aimed to reform property tax laws established by Proposition 13 but faced opposition over concerns about new property taxes impacting vulnerable homeowners.
moreproposition-5

Editorial: Voters, here's what they're trying to hide about local bond measures

Local bond measures are property tax increases lasting at least 30 years.
Elected officials often mislead voters about the tax implications of bond measures.
Voters should thoroughly evaluate ballot wording beyond the first part of guides.
#homeownership

This Is the Biggest Problem With Buying 'Too Much' House

Maria is facing financial stress due to rising homeownership costs and must evaluate her situation carefully.

Soaring Cost of Insurance and Property Tax Is the Top Risk for Triggering Mortgage Delinquencies, Survey Finds

Hidden costs of homeownership, like rising insurance, are a main risk for mortgage delinquencies.

Buying a home? Here's a primer on property taxes.

Property taxes in Massachusetts are high but manageable compared to New Jersey; however, homebuyers should be prepared for potential increases.

Think Your Property Taxes Are High? See How Much Homeowners Pay in the Cheapest and Most Expensive States

New Jersey has the highest property taxes in the U.S., with homeowners paying a median of $9,345 annually.
Democratic stronghold states in the Northeast generally have higher property taxes compared to Southern, red states.

This Is the Biggest Problem With Buying 'Too Much' House

Maria is facing financial stress due to rising homeownership costs and must evaluate her situation carefully.

Soaring Cost of Insurance and Property Tax Is the Top Risk for Triggering Mortgage Delinquencies, Survey Finds

Hidden costs of homeownership, like rising insurance, are a main risk for mortgage delinquencies.

Buying a home? Here's a primer on property taxes.

Property taxes in Massachusetts are high but manageable compared to New Jersey; however, homebuyers should be prepared for potential increases.

Think Your Property Taxes Are High? See How Much Homeowners Pay in the Cheapest and Most Expensive States

New Jersey has the highest property taxes in the U.S., with homeowners paying a median of $9,345 annually.
Democratic stronghold states in the Northeast generally have higher property taxes compared to Southern, red states.
morehomeownership

Mayor who recommended reverse mortgages calls comments regrettable'

Mayor Misha Pride suggested reverse mortgages for seniors facing rising property taxes but later regretted his comment, seeking broader tax relief solutions.

'Mansion tax' aims to make rich pay their fair share, says Finance Minister Jack Chambers

Introduction of a 6% mansion tax for properties over €1.5 million to create a progressive tax system.
The measure is designed for revenue generation and equitable taxation.
The government emphasizes that this tax is not aimed at reducing house prices.

Travis County passes budget with a focus on justice reform - Austin Monitor

Travis County's FY 2025 budget reflects a significant investment in mental health and legal services, impacting property taxes for homeowners.

Bay Area's $20 Billion Housing Bond Pulled From Ballots, Leaving Advocates 'Heartbroken' | KQED

A proposed affordable housing bond in the Bay Area was withdrawn from the ballot, facing significant legal and financial scrutiny.
#real-estate

Texas Megachurch Pastor's Jaw-Dropping Six-Home Compound Hits the Market for $15 Million

A $15 million compound in Spring, Texas, offers opulent amenities and was formerly the residence of a megachurch founder.

His Brownstone Is Worth $5.4 Million. Why Is His Tax Bill So Low?

Property taxes in NYC are disproportionately lower for high-value homes compared to lower-value ones.
City's property tax system is criticized for its unjust nature, burdening lower-income homeowners and apartment owners more.

Texas Megachurch Pastor's Jaw-Dropping Six-Home Compound Hits the Market for $15 Million

A $15 million compound in Spring, Texas, offers opulent amenities and was formerly the residence of a megachurch founder.

His Brownstone Is Worth $5.4 Million. Why Is His Tax Bill So Low?

Property taxes in NYC are disproportionately lower for high-value homes compared to lower-value ones.
City's property tax system is criticized for its unjust nature, burdening lower-income homeowners and apartment owners more.
morereal-estate
from Los Angeles Times
4 months ago

LAUSD puts $9 billion in bonds on ballot that would update campuses and raise property taxes

Los Angeles Board of Education approved a $9 billion school construction bond, impacting property taxes for homeowners.

Equity theft is now illegal in Massachusetts, making it possible for some who lost their homes to get money back

A new law in Massachusetts bans 'equity theft' by requiring municipalities to return any remaining equity to former homeowners after selling foreclosed properties.

City budget writers outline some rate increases - Austin Monitor

Property taxes are the largest revenue source for Austin's General Fund, with sales taxes being the second-largest.

Opinion | It's Time to End the Quiet Cruelty of Property Taxes

Property taxes contribute to racism and wealth inequality
Local officials and tax assessments perpetuate disparities

His Brownstone Is Worth $5.4 Million. Why Is His Tax Bill So Low?

Homeowners in NYC's fancy properties enjoy low property taxes, burdening lower-income neighborhoods.
Disparities in property tax rates in NYC are widely considered unfair, prompting calls for system reform.

Santa Clara has no money to meet $624 million in infrastructure needs

Santa Clara faces a $624 million infrastructure deficit due to aging facilities and lack of maintenance.
Cities across the Bay Area, like San Jose and Berkeley, also struggle with significant infrastructure funding challenges.

Tax Deductions for Renters: How To Use Your Rent Costs to Your Advantage

Renters can qualify for valuable tax deductions related to self-employment or property taxes.
Homeowners are not eligible for the home office tax deduction, but renters may benefit from this deduction.

Editorial: East Bay voters should OK only one of four school bond plans

School bond measures are a form of borrowing that require repayment through property taxes.
Evaluation of bond measures includes analyzing spending plans, financing details, and existing taxes.
#proposition-19

Inheriting a Home in California? Here's What You Need to Know | KQED

Proposition 19 in California has made it more difficult to keep inherited homes.
If a family's home is a multi-unit building, only the parents' unit will qualify for a reassessment exemption.

Thousands of California homeowners can cut their property tax bill. Here's how

Many homeowners in Southern California are not taking advantage of the $7,000 homeowner's exemption, resulting in $30 million in extra tax payments.
Signing up for the exemption is especially important for homeowners hoping to take advantage of Proposition 19 and transfer their homes to their children without a reassessment for property taxes.

Inheriting a Home in California? Here's What You Need to Know | KQED

Proposition 19 in California has made it more difficult to keep inherited homes.
If a family's home is a multi-unit building, only the parents' unit will qualify for a reassessment exemption.

Thousands of California homeowners can cut their property tax bill. Here's how

Many homeowners in Southern California are not taking advantage of the $7,000 homeowner's exemption, resulting in $30 million in extra tax payments.
Signing up for the exemption is especially important for homeowners hoping to take advantage of Proposition 19 and transfer their homes to their children without a reassessment for property taxes.
moreproposition-19

More California homeowners can now get mortgage help via state program. Are you eligible?

California has extended the requirements for the California Mortgage Relief Program to provide additional assistance to eligible homeowners.
The program aims to help those with missed property taxes, late mortgage payments, reverse mortgages and partial claims or loan deferrals taken during the COVID-19 pandemic.
#toronto

Mayor Olivia Chow to release 2024 Toronto budget proposal | CBC News

Toronto Mayor Olivia Chow will release her full 2024 budget proposal, which includes an 8% increase in residential property taxes.
The Toronto police budget could see an increase of $20 million, although city staff have recommended $7.4 million.
The budget proposal does not address the dispute between the city and federal government over funding for refugee claimants in Toronto's shelter system.

Mayor Chow to drop proposed Toronto property tax rate hike to 9.5% | CBC News

Mayor Olivia Chow will recommend a property tax increase of 9.5%, lower than the city staff proposal of 10.5%
Chow's goal is to balance investing in city services and addressing Toronto's $1.8-billion deficit

Mayor Olivia Chow to release 2024 Toronto budget proposal | CBC News

Toronto Mayor Olivia Chow will release her full 2024 budget proposal, which includes an 8% increase in residential property taxes.
The Toronto police budget could see an increase of $20 million, although city staff have recommended $7.4 million.
The budget proposal does not address the dispute between the city and federal government over funding for refugee claimants in Toronto's shelter system.

Mayor Chow to drop proposed Toronto property tax rate hike to 9.5% | CBC News

Mayor Olivia Chow will recommend a property tax increase of 9.5%, lower than the city staff proposal of 10.5%
Chow's goal is to balance investing in city services and addressing Toronto's $1.8-billion deficit
moretoronto

Miami-Dade mayor wants county voters to approve $2.5B borrowing plan in November

Miami-Dade Mayor Daniella Levine Cava plans to ask voters to approve a $2.5 billion borrowing plan tied to property taxes.
The bond referendum, called '305 Future Ready,' would fund sewer extensions, affordable housing, and other long-term government projects.
The borrowed amount would be paid back through property taxes over multiple decades by selling bonds on Wall Street.

Kathy Hochul's Housing Plan Calls Legislators' Bluff

Governor Kathy Hochul challenges state legislators to cede control to New York City on property taxes and housing density.
State legislators refuse to let the city reduce taxes on rental projects and make conversions of office properties illegal.
from www.nytimes.com
1 year ago

Columbia and N.Y.U. Would Lose $327 Million in Tax Breaks Under Proposal

New York lawmakers are proposing legislation to eliminate property tax breaks for Columbia University and New York University.
The funds from the eliminated tax breaks would be redistributed to the City University of New York.

Cook County treasurer urges owners to pay late property taxes

Property owners in Cook County are urged to pay their back taxes before tax liens occur.
The annual tax sale for delinquent property taxes will take place from Jan. 9-12, 2022.
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