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Property Taxes

All articles tagged with #property taxes

Property Taxes Outpace Inflation Across the U.S., Fueled by Local Budgets
business2 days ago

Property Taxes Outpace Inflation Across the U.S., Fueled by Local Budgets

Last year, the average homeowner paid $4,427 in property taxes, up 3.7% from 2024 and faster than the 2.7% CPI; tax bills rose in 40 states plus D.C., with Delaware up 18% and Maryland 11.6%, even as home values slipped 1.7% to $494,231. Tax hikes reflect local funding needs for schools and services, not consumer prices, and some states cut levies (Wyoming 25% cut for properties up to $1M; Montana rebates). New Jersey averages about $10,500, while West Virginia averages around $1,081. Property taxes account for roughly 70 cents of every dollar in local tax revenue.

via CBS News|
#attom#business#inflation
Hidden Costs Push Homeownership Beyond the Mortgage
real-estate24 days ago

Hidden Costs Push Homeownership Beyond the Mortgage

Homeowners across the U.S. are feeling a jump in non-mortgage costs—homeowners’ insurance, property taxes, and HOA fees—that can dwarf monthly payments. Insurance rates have spiked due to higher repair costs and climate disasters, taxes have climbed with rising home values, and HOAs are more common and costly, pushing total housing costs higher even as mortgage rates ease and homeowners build equity.

via Business Insider|
#hoa-fees#homeowners-insurance#housing-market
Florida House advances ballot measure to end non-school property taxes on homesteads by 2027
politics1 month ago

Florida House advances ballot measure to end non-school property taxes on homesteads by 2027

The Florida House approved a joint resolution to place a constitutional amendment on the November ballot that would immediately end non-school property taxes for homesteaded properties beginning January 1, 2027, in an 80-30 vote along party lines. The Senate has not yet proposed a bill, and three-fifths support in both chambers is required to reach the ballot. Senate leaders say they’ll propose their own measure, potentially this session or in a special session. If approved, local governments could face large costs, and Gov. DeSantis has not unveiled a full plan, urging a careful, right approach over speed. The legislative session could extend beyond its scheduled end date.

via Florida Phoenix|
#ballot-measure#desantis#florida
politics2 months ago

DeSantis Frames Farewell Florida State of the State as Push for Tax Reform and AI

In his final State of the State, term-limited Gov. Ron DeSantis touts a seven-year record of “results” while urging lawmakers to advance a property tax overhaul and AI policy, and signaling support for immigration enforcement and lowering the rifle-purchase age to 18; Democrats criticize his culture-war focus and affordability concerns as House Republicans clash and questions linger over redistricting ahead of a 60-day session.

via Politico|
#artificial-intelligence#florida#politics
Reynolds Unveils Iowa’s 2026 Playbook: Tax Relief, Education Gains, and Health Initiatives
politics2 months ago

Reynolds Unveils Iowa’s 2026 Playbook: Tax Relief, Education Gains, and Health Initiatives

Gov. Kim Reynolds used the Condition of the State address to outline a 2026 agenda focused on property-tax relief (caps on local revenue growth, three-year assessments, and a senior tax freeze), support for first-time homebuyers, and expanded farmer credits; she champions education reform with per-pupil funding following students and universal Education Savings Accounts, plus public-charter school options. The plan includes aggressive efficiency measures and tech partnerships to cut costs, investment in cancer prevention and rural health via the Healthy Hometowns initiative, and stronger veteran benefits, while emphasizing budget transparency and local-government accountability. Reynolds also honored Iowa Guardsmen killed in Syria and noted the ongoing impact of military service on communities.

via KTIV|
#cancer-prevention#education#government-efficiency
Missouri's Property Tax Cap Offers Limited Relief
government3 months ago

Missouri's Property Tax Cap Offers Limited Relief

Missouri property owners, especially in Hamilton, face significantly higher tax bills due to reassessment practices that increase property values faster than the overall market, with proposed reforms like separate tax rates for different property classes to address inequities. The current system dilutes the effect of tax caps, leading to shifting burdens among property types, and efforts are underway to improve assessment fairness and transparency.

via Missouri Independent|
#assessment-increases#government#missouri-property-tax-reform
Wealthy Homeowners React to Proposed 'Taylor Swift Tax' Expansion
world7 months ago

Wealthy Homeowners React to Proposed 'Taylor Swift Tax' Expansion

States like Rhode Island and Montana are implementing new taxes on luxury and second homes owned by the wealthy, including a notable 'Taylor Swift Tax' in Rhode Island, aiming to increase revenue but facing criticism for potentially discouraging high-net-worth individuals from owning or purchasing property in these areas, which could impact local economies and housing markets.

via CNBC|
#luxury-real-estate#montana#property-taxes