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Aug 09, 2007 -- Property tax increases pinch homeowners
Property taxes are going up all around the country. On average, property taxes are up 13 percent even after accounting for inflation, according to The Wall Street Journal. It's as a result of the real estate bubble and it's affecting how interested people are in buying homes these days. If politicians were doing their jobs correctly and rolling back taxes, property taxes wouldn't go up very much at all. The public is livid over the increase and public outcries are happening all over the country. The more money that comes into local and state governments, the more they will spend. At the federal level, that's what happens because they can just print money. But states are required constitutionally to balance the budget. Typically, whatever money comes in is spent. But we need to control spending at all levels. That goes for politicians too. Clark thinks what we need is a nationwide rollback in property tax rates. If we had tight controls on spending, residents wouldn't be feeling this burden in states that have experienced real estate bubbles. If you live in a state with citizen-sponsored ballot items, that is how you do your part. In states where that is not an option, elect people who don't just talk about controlling spending, but who actually do it.
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