Comment by lazyasciiart
4 hours ago
Property taxes are not that simple, usually. E.g caps on growth of total property tax receipts or on increase per year, rebates, other schemes.
4 hours ago
Property taxes are not that simple, usually. E.g caps on growth of total property tax receipts or on increase per year, rebates, other schemes.
The typical way property taxes are done in the US is that the local government first sets a revenue amount, then a tax rate is determined which produces that much revenue. You don’t have a situation where property values double and the local government automatically ends up with double the tax revenue.