The writing has been on the wall for years, but the moment when cities will have to make serious cuts to deal with falling housing prices may come in 2012. Part of the real estate market collapse that rarely gets attention is the effect it has on property taxes. Cities use those taxes to pay
Cities Start to Feel Real Estate Slump as Taxes Slide
March 31, 2011 by
Property tax fluctuations are always behind the real estate and mortgage lending markets, but the decline of property values is now starting to catch up with the taxes, leaving many cities, towns, and villages in a serious bind. With lower property values, residents will expect their municipalities to cut their taxes. That could mean more
