Property prices are surging most everywhere. And when
property values rise, taxes — charged based on a percentage of property values
— rise right along with them. So, confronting property tax hikes has become a
rallying cry in many states.
Montana is no exception. And now, a former Montana legislator
has submitted a proposed ballot initiative to halt major tax increases for
people who aren’t buying or selling, but just keeping their real estate.
Let’s take a look at how it’s going so far.
Continue reading “Montana Property Tax Going Up? Not So Fast.”
Property taxes are a test of strength for most homeowners.
For people on fixed incomes, rises in property values — and thus taxes — can be
dastardly. Now, imagine people on fixed incomes who just happen to live in
Illinois ranks #2, after New Jersey, for highest property taxes in the nation, according to a recent WalletHub analysis. The Illinois homeowner shells out an average of $5,000 in property taxes on a $217,500 house. That means people in Illinois pay double what the average homeowner pays in property taxes nationwide.
Some seniors can’t pay it, and have no way to earn the extra
income. For them, there is a little extra relief coming this year — perhaps
just enough to keep some of the most cash-strapped homeowners in their homes.
More on this below.
Continue reading “Illinois Property Taxes Are Ridiculous. A 2021 Change Helps Some Seniors, But Cook County Assessment Scandals Add to Challenges”
For years running, Texans have been protesting their
property taxes. This year (2021), Texas homeowners had until May to object to
their county assessors’ valuations of their homes. When they win their cases,
their homes’ market prices don’t change. But their tax bills do.
County procedures enable Texas homeowners to contest their
property tax assessments. Some Texans now regard the process as a necessary savings
strategy in a challenging economy.
Continue reading “Do-It-Yourself Stimulus? The Rise of the Property Tax Protests”