Re:NYC’s Property Taxes Are Crushing Homeowners
by michael1999 on Tuesday February 01, 2022 @11:30AM
(#30164905)
Yikes! We have a similarly capped appreciation rate, and my annual property taxes are much less that $10K CAD here in Toronto. Those numbers seem wild to me, but who funds what and how can vary so much between jurisdictions, it's hard to make sense of it.
However in Oregon there was a measure passed in the 90s that limits gains in evaluation of an existing house to 3%, and as a result every house always goes up by 3% assessed value. That makes it more predictable, as you can always expect that value to go up every year.