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 CONTRIBUTE Fellow Arizonans, we are facing a Historic Battle for nothing less than our Homes and way of life. Please help us reduce your property taxes and improve our quality of life in Arizona. |
NEWS Property-Tax Frustration Builds
Wall Street Journal Falling home values and rising property taxes in many parts of the country are generating the loudest complaints about property levies since the 1970s, forcing state and local officials to address the outcry even as the housing-market slump eats into many sources of their revenue. Indiana residents held public protests this summer against a surge in property taxes and acted on their frustration by ousting the mayor of Indianapolis. Florida voters will decide next month whether to adopt massive property-tax cuts, in a debate that has pitted part-time residents against full-time Floridians. In California, thousands of homeowners are having their assessments reduced under a decades-old state law, and lower tax revenue due to the weaker housing market is likely to force an emergency budget session. Falling real-estate prices and turmoil in the mortgage market are expected to reduce property values for U.S. homeowners by a total of $1.2 trillion next year, according to Global Insight Inc., a research-and-consulting firm in Lexington, Mass. Readers, how’s the property-tax turmoil playing out in your neighborhood? Comments The cause of the property tax dilemma we taxpayers face during the bull markets and the revenue shortfall government sees during a bear market are akin to revenue linearity in corporations. Revenue linearity is the goal of healthy businesses and should be for government as well. The Arizona Tax Revolt Property Tax Rollback initiatives which are collecting signatures to qualify for the November ballot will achieve this goal as well as reversing the tax increases of recent years and establishing levy or property tax revenue limits for each taxing entity and a valuation rollback to the baseline valuation of each parcel in 2003. New parcels will be valued to this same 2003 valuation baseline. Think of it as paying tax on the intrinsic value of your property not real estate price inflation. Activists in other states are already studying our measures as a possible cure to their property tax woes. If only income tax were based on the 1950 value of your present income! That is another battle… To learn more or to contact the Arizona Tax Revolt please visit our WEB site at: http://www.ArizonaTaxRevolt.ORG
Marc Goldstone, Chair.
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COPYRIGHT © 2006 ARIZONATAXREVOLT.ORG |