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I don't think my property taxes are "unfairly high" compared to other comparables. I think we are all "unrealisticly high" due to the downturn in real estate. However, the city/county/schools need what they need and that hasn't changed because our properties are worth less. If the city wants to go through and revalue everyone's property to a more realistic level, they will need to raise the mill rate to get the same amount of money that is needed to cover the annual budget. If someone's individual property has been impacted harder than others, I guess that's an issue, but I assumed that in general property values in this area had gone down x%. If people are actually getting decreases because of the market, a total revaluation should be performed so everyone is paying their fair share.
ReplyDeleteI think property taxes are too high and the school formula in Wisconsin relies too much on properties, but that is a whole different debate.