Right now, it’s gotten beyond deniable that local porerty taxes are on falsified home “values” that no longer reflect the market value of the house being taxed. Associated Press in the past three days carried a story widely run in “mainstream” dailies nationwide about how the housing bubble now has started popping to the point that prospective buyers are demanding cash kickbacks from sellers (hidden from mortgage lenders illegally) just to buy the house. Meaning that the prices of the homes yours is analogized to for assessment purposes are phony. (See Associated Press story on this.)
It’s time to say it. Americans deserve bigtime a rollback on their property taxes to reflect the collapsing marketability for their homes and collapsing value their homes actually have in the real market for houses. How many “PRICE REDUCED” signs of the sudden profusion of them seen only in the past two years in most places are needed to get this message across?
Either municipal tax and budget officials should reduce local property taxes to reflect the collapsing market for houses or everyone should contest the assessment on his or her house, and that’s easy to do and win.

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