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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: loantech who wrote (1985)3/14/2004 11:32:33 AM
From: CommanderCricket  Read Replies (1) of 116555
 
Great discussion but I haven't seen property taxes mentioned. As the federal gov. isn't forwarding as much down to the state level, the local governments are looking for cash and finding it with property taxes.

Here in Chicago, as property values continue to be reassessed, taxes are going up substantially. As an example, I'm paying close to $9k a year on a $400k property.

As a precentage of income, this is significant for most people. I really wonder how most folks get by. Your example of fifty years ago wouldn't have this level of taxes.

Back to lurking - Michael
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