January 26, 2012

BusinessWeek – Property Tax Appeals Flood Cities and States


As real estate values plunge, many homeowners are appealing property taxes, adding to the financial woes of cities and states.

Cities and states, already straining to balance budgets, are in for another shock in 2011 as hordes of property owners appeal tax assessments, demanding lower levies that reflect battered real estate values. Less property tax revenue means more pressure on local governments to cut services, especially public schools and police and fire departments that rely heavily on those taxes.

 

Read the entire article on BusinessWeek.com