Thursday, June 11, 2009

Time Bomb with a Kicker

NPR on the county property tax "tsunami":

Morning Edition, June 11, 2009 ·After facing tight budgets in recent years, many city and county governments now see a new financial time bomb in their future.

In states like Florida, California and Nevada, the collapse of the housing market has driven down home values dramatically. That means lower property tax revenue. Counties across the country say property tax collections may decline by 10 percent or more over the next few years.

Tax Increases Ahead?

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