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Stories Tagged as

Property tax

Declining property tax collection may hit city budgets

by Matt Levin
Nov 15, 2022
Seattle recently had to redraw its budget after forecasting a $27 million drop in revenue from one real estate tax.
The San Francisco skyline. The city's chief economist Ted Egan said he's increasingly worried about a drop in property tax revenue.
Justin Sullivan/Getty Images
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COVID-19

Cities and states that lean on sales and income tax to operate have taken a hit

by Kristin Schwab
Apr 15, 2020
A place like Columbus, Ohio, relies on income tax for 75% of its revenue.
With much of the economy shutdown and more and more people out of work, cities and states aren’t collecting as much in taxes.
Matthew Hatcher/Getty Images
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Tax Bill 2017

Thousands pay their 2018 taxes early in hopes of using eliminated deductions

by Associated Press
Dec 27, 2017
Long lines form at tax offices as homeowners try to hack the tax reform bill.
Internal Revenue Service's headquarters in Washington, D.C. The IRS hasn’t yet said how it would handle 2018 prepayments.
Brendan Smialowski/AFP/Getty Images
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Key question on the GOP tax plan: What’s your ZIP code?

by Tracey Samuelson
Nov 2, 2017
The GOP tax bill as written gets rid of deductions for state and local income taxes and would cap state and local property tax deductions at $10,000. It would also limit the mortgage interest deduction by capping it at $500,000 for future home purchases. These provisions will have a bigger impact in some parts of […]
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Chicago faces historic tax hike to fund massive debt

by Nova Safo
Sep 23, 2015
The proposed $544 million property tax hike would pay for pension shortfalls.
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Overdue reassessments hit homeowners hard

by Audrey Quinn
Sep 3, 2014
Some cities and towns hadn't reassessed property values in decades.
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North Dakota could eliminate property tax

by David Brancaccio
Jun 12, 2012
If voters today choose to wipe out the property tax in the state, it would be a first for the nation and would be nearly $1 billion taken from the budget.
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Greek Debt Crisis

In Greece, new property tax sparks anger

by Stephen Beard
Feb 17, 2012
The Greek government has introduced a new property tax so that it can increase revenue but many Greeks say it's unfair and unwise.
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