property taxes
Homesteading 2010
A small town in Nebraska is reviving the Homestead Act, offering plots of land to people in order to cash in on property taxes down the line. Other places are following suit.
Property Tax Revenue Downturn Hurting Cities
The economic recession is lightening up in some areas, but cities and municipalities will continue to struggle with the downturn in the economy for years, mainly because of falling property tax revenues.
New Jersey Caps Property Tax Increases
Lawmakers in New Jersey have approved a bill that will limit annual property tax increases to 2%.
California's Troubles Not the Fault of Prop 13
This article from City Journal suggests that California's much-reviled Proposition 13 limits on increases in property tax is not at fault for the state's crippling fiscal situation.
California's Prop 13 Benefits Older Generations, Punishes Younger
A new study from USC concludes that the benefits of California's Prop. 13, which froze property tax rates, are unequally distributed among generations of homebuyers.
Killing the Community Preservation Act
Three Massachusetts towns are looking to kill a 3% property tax that has been funding open space purchases, historic restoration, and affordable housing construction.
Cities To Take Hit As Property Taxes Drop
As the economy dives and housing values plummet, revenue from property taxes is expected to fall over the next few years, making things tough for many cities.
The Cautionary Tale of Vallejo
Vallejo, CA declared bankruptcy last spring, felled by fiscal mismanagement and falling property taxes. Cities around the country are looking to Vallejo's example as they teeter near the edge.
Preserving Land to Save Money
Voters in suburban Minnesota will vote on whether to invest $10 million to preserve a closed golf course. Or they could save the $10 million and allow a developer to build houses. But many say it will be cheaper in the long term to buy now.
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