Reported 4 months ago
With home prices rising over 50% nationally in the past five years, retirees and homeowners in states like Colorado, Alabama, and Wyoming are pushing back against escalating property tax bills, prompting efforts to limit, cut, or offset property taxes. Measures include capping property tax revenue growth, imposing growth limits on tax-assessed values, and providing relief through legislative sessions and ballot initiatives in response to complaints about the strain on residents' finances. However, concerns over the potential impact on local government revenue and inequalities in tax burdens remain as initiatives to address rising property taxes evolve.
Source: YAHOO