Higher Property Taxes. With the increase in the value of housing countywide, the next revaluation in 2011 will show a marked increase in property tax levels. This will pose a hardship on the elderly and others on fixed incomes.
Basic economics and basic property tax comprehension show this to be a false/incorrect statement. Especially when there is an "increase in the value of housing countywide," there is no overall relationship between the revaluation and the property tax levy. When revaluation is done, especially on an eight year schedule (the longest term legally allowed) it is almost 100% certain that the tax rate goes down. Some people's taxes will go up and some will go down. The County is required to publish a "revenue neutral" rate so people will know if net taxes are actually being raised. For example, if the tax base doubles in value, they have to publish the rate (half as much as before) that would get the government the same amount of money if the revaluation had not been done. That's not to say the County won't decide they need to raise taxes, but that's a separate issue and unrelated to a revaluation. The great minds at the JLF should know all this.
Submitted by Leslie H on Wed, 01/24/2007 - 10:31am
There was an awful lot of hot air circulating up in DC last night. I got home in time to watch the Dubya train ... rolling off the tracks in slow motion. Lucky me. The saviors of the evening were Jim Webb and the SOTU live blogging thread here. Most excellent friends -- y'all had me in stitches when I shoulda been dozing off to sleep. But let me get to the question in my title ...
[Editorial note: the kitties are just for decoration. No kitties were harmed in the writing of this rant.]
In case you weren't aware, we had an open meeting of the Johnston County Growth Management Committee last night in Smithfield. Woohoo!, right?
Well, GUESS WHO CAME to stick their nose where it don't belong?!
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