Free Republic

Key takeaways * Eliminating property taxes could raise Florida home values by 7–9%, benefiting current homeowners but making it harder for first-time buyers. * Experts warn the state may need to increase sales tax or cut services to offset lost property tax revenue, raising questions about who ultimately pays. * The plan requires a constitutional amendment and faces skepticism; a recession could trigger housing oversupply, potentially crashing prices and straining the state budget.

Nashville’s family-owned businesses are sounding the alarm over rising property taxes, warning Mayor Freddie O’Connell that the city risks losing the very businesses that give Nashville its character. What Makes Nashville...Nashville? Local business owners say iconic Nashville spots, its restaurants, shops, and other small businesses, are struggling under record property valuations combined with tax hikes. Many fear they may not survive. The Arnold family has been serving their signature “meat and threes” for more than 40 years. Owner Kahlil Arnold greets every customer personally, creating a restaurant that feels like family. But the Arnolds are now facing a $138,000 property...

A proposal pushed forward by a Florida Republican would completely eliminate property taxes in the state as soon as 2027, a measure that Governor Ron DeSantis has repeatedly said would have his backing. HJR 201, a House Joint Resolution filed by State Representative Kevin Steele, who represents District 55 north of Tampa, proposes an amendment to the Sunshine State’s constitution to exempt homestead property from all ad valorem taxation—taxes imposed on a home’s assessed value—other than school district levies. At the same time, the new legislation would prohibit counties and municipalities from cutting funding for law enforcement.

Well, here we go again. CNN tells us that a property tax revolt is spreading, with a nationwide movement to eliminate property taxes on the march.Most of us are familiar with the basic scenario of property taxation. Every state is replete with numerous political subdivisions commonly known as “municipal corporations.” These are counties, cities, school districts, fire districts, water districts, sewer districts, diking distraction, etc., etc. Each of these is known as a “taxing district” because state statute authorizes these districts’ legislative authority to adopt an annual budget and levy that budget as a tax on the property owners in...

Run Time 54 m. / " started noticing something was off in home appraisals,” says Mitch Vexler, whistleblower and expert on property valuations. He tells Daniela Cambone: “They were inflating property values to jack up taxes, and that was feeding into trillions in school bond debt that I believe will spiral.” On the scope of the problem, Vexler is blunt: “We’re talking about $5.1 trillion in school bonds that are based on these inflated appraisals. That’s massive—this is a ticking time bomb for local governments and taxpayers alike.” He warns of consequences for the bond market: “School districts are relying...

An owner’s home is his property, not the government’s. Yet many Ohioans are paying more in property taxes than on the principal & interest payments on their mortgage. That’s un-American & we’re going to fix it once I’m in charge.

Michigan's highest court this month dealt another blow to the practice known as home equity theft, further chipping away at the state's ability to seize people's homes and keep the profits when owners accrue modest tax debts. That such a decision was necessary is troubling for a few reasons. There is, of course, the perversion of the practice itself, which has seen the government rob people effectively of everything they have when they're already down on their luck. Michigan woman Tawanda Hall, for example, fell $900 behind on her property taxes; with penalties, interests, and fees, she owed $22,642. So...

CLEVELAND, Ohio – The second half of property taxes are coming due this week, but 7% of homeowners have yet to pay the first half, according to the county’s treasury. Most of the county’s 564,000 property owners are up to date on their tax payments, according to county data provided to cleveland.com and The Plain Dealer through a records request. They’ve paid over $1.5 billion in property taxes, which provide revenue for local schools, cities, villages, townships, libraries and various county-level services. (snip) The higher delinquency came after the countywide property reappraisal, which increased home values an average of 32%,...

Many homeowners have seen their property taxes increase in recent years because of rising housing prices and local tax rates. But the property tax assessment isn't always set in stone: filing an appeal may lower the cost for years. The median property tax bill in the U.S. in 2024 was $3,500, up 2.8% from $3,349 in 2023, according to an April report by Realtor.com...... Appealing your assessment is "not a terribly difficult investment of time for a residential property owner," said Sepp. "The processes are reasonably easy and fair." Should you be successful, the change typically takes effect for the...

A Long Island suburb voted to wallop homeowners with a 87% property tax hike— with local officials saying the insane increase was necessary because of a years-long administrative goof. Atlantic Beach’s village board of trustees told residents the big number was needed because of how taxes were assessed by the county in recent decades but officials refused to give The Post further information or answer any questions. The Nassau County assessor said it was the village government that was improperly billing commercial properties. ... Though village officials blamed assessment quirks, some residents said part of the hike is to cover...

As Tax Day nears, fiscally conservative leaders in several states are pushing to abolish property taxes, with one Pennsylvania lawmaker arguing that homeowners shouldn’t have to "pay rent" to the government. That lawmaker, state Rep. Russ Diamond, R-Lebanon, spoke to Fox News Digital on Thursday ahead of his latest effort to end the collection of such taxes in the Keystone State. Diamond will put forward a resolution — titled HB 900 — which Fox News Digital learned exclusively will be filed imminently. The document is a draft constitutional amendment he hopes will go to the voters on Election Day, and...

I hesitate to write about anything that is going to encourage people to move to the Southeast. As we like to say here in Atlanta, "we full." But it's not just that. Yankees and West Coasters love to move to our little slice of the country because we have a cheaper cost of living and bring their liberal big government and high-tax policies with them, and it kind of ruins things for the rest of us. AdvertisementWell, I'm going to make an exception here because I like what's happening in Florida, and I hope my home state of Georgia —...

Spanish Prime Minister Pedro Sánchez shook the world on Monday, January 13, with the ambiguous claim that his government planned to tax properties owned by non-EU nationals by 100 percent. The soundbite rang alarm bells and made headlines around the world, not least for the ambiguity in its language. Could this be existing properties? Could this be property owned by offshore and non-resident investors? Could this be on the purchase tax on properties? While interpretations of the boastful claim by Sánchez were various, the miscommunication caused hearts to skip throughout the entire expat community in Spain. But such an extraordinary...

True to his Party's belief that crises are opportunities to advance the interests of Democrats, Gov. Gavin Newsom (D-Calif) has used the state's wildfire disaster to launch a campaign website. "So far there has been a lot of finger pointing about who's to blame for the magnitude of the fire damage being done in our state," Newsom complained. "What is needed is an honest assessment of the facts. We're calling on folks to help out by donating funds to ensure that those of us who have been diligently governing the state do not suffer undeserved blame." The Governor insisted that...

If you’ve owned a home in the U.S. for at least a few years, its value has likely risen — maybe significantly. This is generally a good thing, since it can help raise your net worth, which can in turn lead to greater financial security. But there’s also a dark side: A rise in your home’s value can also mean a rise in your property taxes, which can strain your finances. Home values influence property taxes First, it helps to know how property taxes are calculated. Your property taxes are calculated by multiplying the “mill rate” by your property’s assessed...

An estimated 1.5 million taxpayers will be notified of their automatic eligibility for a new round of state-funded Anchor property-tax relief benefits starting next week, state Treasury officials said Tuesday. The benefits, intended to help offset the state’s high local property taxes, will once again total as much as $1,750 per household. Those eligible for automatic enrollment will see letters notifying them that their applications for Anchor benefits will be filed with the state automatically beginning Aug. 19, the officials said. Later this month the Department of the Treasury’s Division of Taxation will also be sending out information via mail...

Renting a Home vs. Owning a Home: An Overview Buying a home is a huge part of the American Dream. Choosing to buy or rent, though, is a major decision that affects your financial health, lifestyle, and personal goals. Whichever option you choose depends entirely on your lifestyle and financial situation. Both require a regular income (so you can afford the payments and associated costs) and may also require a certain degree of effort to maintain.

Voters in the city of Chicago are being presented with a referendum on their ballots in the 2024 primary election, asking if they approve of a so-called “mansion tax” that would fundamentally change the way real estate transfers are taxed in the city. The language of the "Bring Chicago Home" referendum asks voters to decide whether the city should move from the current flat tax model on real estate transfers to a graduated tax, which would impact real estate transactions on all value levels. Supporters say that the ordinance would result in a reduction in the transfer tax for approximately...

Although the Ivies and other elite colleges and universities in the U.S. are financial titans, they are registered with the Internal Revenue Service as 501(c)(3) charitable nonprofit organizations. As a result, their vast property holdings are exempt from taxation in all 50 states. The rationale for this status is that higher education is an inherent public good. At least that has been the assumption under which this country has long operated. But this argument has increasingly been called into question by events over the last few years, culminating in the headline-making responses by university presidents to a recent congressional panel....

Americans are growing increasingly frustrated at property tax levels, a new poll has shown. According to a new UChicago Harris/AP-NORC poll, around two thirds of Americans surveyed believe their property tax rate is too high. The poll was conducted in 2023, between December 14 to 18, with 1,024 participants across all 50 states and the District of Columbia. The survey found 69 percent of adults in the U.S. believe their property tax rates were "unfair", with 27 percent saying they were "about right", and 3 percent claiming they are taxed too little. Across the country, property taxes, also known as...