Re:The Great American Single-Family Home Problem
by dragonwriter on Saturday December 02, 2017 @07:13PM
(#15835157)
> Tax rate goes up as value increases. Does not go down when value decreases
The tax rate usually doesn't change in either direction with value, except in states like California which limit assessment increases, where the effective rate decreases if value increases rapidly (because the tax basis increases less than the full increase in value).
And in most jurisdictions, value decreases are fully reflected in tax assessments, even when increases are only partially captured.
The tax rate usually doesn't change in either direction with value, except in states like California which limit assessment increases, where the effective rate decreases if value increases rapidly (because the tax basis increases less than the full increase in value).
And in most jurisdictions, value decreases are fully reflected in tax assessments, even when increases are only partially captured.