My property taxes, like everyone else’s in Miami have skyrocketed. Now we are facing a downturn in housing, along with the rest of the nation. If the prices of homes go down, do our taxes go down as well?
Will we ever get relief from our tax burdens or should we move away?
2007-07-27 03:22:53 · 3 answers · asked by Deborah H 1 in Business & Finance ➔ Renting & Real Estate
Your taxes will not decrease because the real estate values have fallen. The municipality involved has a budget which must be met. If everyone's taxes go down, how do they meet the budget requirements ?
The only way to reduce taxes is to reduce the budget involved. That means cutting services somewhere along the line.
2007-07-27 03:27:58 · answer #1 · answered by acermill 7 · 0⤊ 0⤋
Less taxpayers mean cuts in services and probably no relief in sight.
2007-07-27 10:28:01 · answer #2 · answered by wizjp 7 · 0⤊ 0⤋
Nope....I wouldn't expect it. As the city grows, more money is needed to run it.
Taxes have nothing to do with market value.
2007-07-27 11:02:40 · answer #3 · answered by Expert8675309 7 · 0⤊ 0⤋