In case you aren't familiar with the property tax formula, it works like this:
If you'll notice, they have a two-pronged method for raising taxes. First they can raise the property value (which they have done every year since we bought our house), then they can raise the tax rate.
Personally, I think we are headed for a real estate bust. I think property values are not worth anywhere close to what the tax office says they are worth. I think I see a bubble in real estate values. Just my opinion, of course.
Tags: Real Estate Taxes, Appraisal, Taxes