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Strategies & Market Trends : Value Investing
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To: anializer who wrote (33118)12/26/2008 10:49:55 AM
From: Oblomov   of 78652
 
Here in IN, there were large protests and nearly a tax revolt because the property tax rose to 1.5% of assessed value in some cases.

There was an initiative to amend the state constitution to cap it at 1% and exempt homesteads (owner occupied property), but many legislators, interest groups, and lobbyists feared that this would limit their power, so they threw in the kitchen sink to stop it.

The legislature capped the tax at 1% of assessed value without amending the constitution. My tax is currently $1800/yr on a $250K property. Of course, I do not live in the "city that never sleeps".
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