Thursday, May 8, 2008

Rising property taxes

Just came across this from a Wall Street Journal article. NOVA folks can get the whole article for free through the library website. Otherwise, here's a blurb:
Faced with revenue shortfalls, local governments across the U.S. are raising property-tax rates, angering homeowners already hit by the housing slump and economic slowdown.

Spring Valley, N.Y., approved a 9.7% increase in the property-tax rate to balance its budget. A number of fast-growing suburbs around Washington, D.C., have raised rates, while Memphis Mayor Willie Herenton has proposed a 17% increase in the property-tax rate to close a budget gap.

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