The Perfect Property Tax Plan

Here's one columnist's proposal to promote stability while ensuring economic growth.

Over the last few years, we’ve seen unprecedented drops in property values and depletion of tax revenues generated from property taxes. I guess there are many reasons for this, including the crash of an over-inflated housing market, incredible foreclosure rates and a recovery that has never really happened.   So communities find themselves with millions of dollars of real estate without owners who are not paying income taxes AND a tax base that is literally shrinking before their very eyes. Because communities are generally not allowed to run a deficit, many opt to simply raise taxes instead of cutting back on Government services. Many combine tax increases with cutbacks in services. Virtually all communities are scratching their heads …

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