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Friday, March 31, 2006
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OUR OPINION: TAXES Property tax frustration
It's a chain reaction that's frustrated more than one property owner in recent years.
It's a chain reaction that's frustrated more than one property owner in recent years.
¥ Increased demand for housing and land drives up market value.
¥ Increased market value drives up property value.
¥ Increased property values coupled with government spending drive up property taxes.
Staff Writers Renee Richardson and Matt Erickson look into the complexities of taxes and property valuation in an exhaustive three-part series that started Friday. We hope the series sheds a little light on the taxing and budgeting practices of government.
One interesting point that's highlighted in the series is that the increases in tax base which many cities and counties have seen have provided cover for politicians who are reluctant to raise taxes. Even cities and counties that don't raise their tax rate are able to use the increased revenues which come from growth in their tax capacity on government services. Elected officials can say they're holding the line on the tax rate and yet the taxes go up.
Governments don't have to automatically use the increase to procure the maximum amount of tax revenue that's made available through property value increases. Perhaps, in their calculations, they should ignore how much tax revenue is available, derive the minimum amount of revenue they need to run their city or county efficiently and then work from there. In particular cases a reduction in government spending is an alternative to automatically spending the revenue.
There are avenues for citizens who aren't happy with their taxes or property values. People shouldn't hesitate to attend truth-in-taxation hearings, a session of their Local Board of Appeal and Equalization or a regular meeting of their local unit of government. They can also raise spending and taxation issues with their elected representatives. That's why those folks were elected - to listen to and help their constituents.
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