Property Taxes are High because of High Spending

Homeowners nationwide know that their property taxes are too high, and are getting higher. But many of them may not realize why: not because of an increase in their property’s value, but the expansion of government spending. Paul T. Wink seeks to dispel some misconceptions about what is driving up the costs of property taxes in his opinion piece, “Blame more spending, not reassessments, for high property taxes”:

“Our property taxes are too high. But this has nothing to do with assessments or reassessments. An annual reassessment does not result in a penalty to taxpayers as claimed, so long as all properties are treated the same. Whether properties are assessed at full value or a portion, or reassessed annually has nothing to do with your taxes. Only the increased spending by the taxing authorities (largely schools when discussing property taxes) increases your taxes…

“This is a point that has been missed by a number of people in authority, like Michael Rights, the Town of Southeast supervisor, who recently proposed a freeze on assessments that was smartly rejected by the majority of the Town Board. While such a proposal serves the political purpose of making it appear that he is doing something to reduce taxes, it has no such effect. Only reduced spending will lower taxes [emphasis added].” . . . [Read More]

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