NJ had the same problem until our property tax increases were capped at 2%; now when teachers get 5% raises a bunch of young untenured parasites lose their jobs...
“NJ had the same problem until our property tax increases were capped at 2%; now when teachers get 5% raises a bunch of young untenured parasites lose their jobs...”
Here in California, thanks to Prop 13, we’ve had our property taxes capped at 1% for 30 years. So thanks to this proposition, we can stay in our home now that we are retired.
I should also have added that they cannot increase assessed valuation more than 2% per year. And during the economic downturn, when housing values here plummeted, people were able to go to the assessor and get their taxes reduced based on the decreased value of their homes. Our daughter had her home’s assessed value reduced by $100,000 because they had recently purchased it so it was overvalued substantially.