Property Taxes: The Good & The Bad

[vc_row][vc_column][vc_single_image image=”844″ img_size=”full” alignment=”center”][vc_raw_html]JTNDZGl2JTIwaWQlM0QlMjJidXp6c3Byb3V0LXBsYXllci04NDg3ODIzJTIyJTNFJTNDJTJGZGl2JTNFJTBBJTNDc2NyaXB0JTIwc3JjJTNEJTIyaHR0cHMlM0ElMkYlMkZ3d3cuYnV6enNwcm91dC5jb20lMkYxNzQwMjc5JTJGODQ4NzgyMy1wcm9wZXJ0eS10YXhlcy10aGUtZ29vZC10aGUtYmFkLmpzJTNGY29udGFpbmVyX2lkJTNEYnV6enNwcm91dC1wbGF5ZXItODQ4NzgyMyUyNnBsYXllciUzRHNtYWxsJTIyJTIwdHlwZSUzRCUyMnRleHQlMkZqYXZhc2NyaXB0JTIyJTIwY2hhcnNldCUzRCUyMnV0Zi04JTIyJTNFJTNDJTJGc2NyaXB0JTNF[/vc_raw_html][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]Property taxes are necessary method of revenue generation to cover local operating measures. It is a social good in the long run to fund schools, fire departments and infrastructure, etc.. On the negative side, taxes are not always used on items of value to the citizenry. Budgets are not often voted on by the local, general population. Therefore, some local items in the budget that are not of a personal interest will disgruntle many residents.

Politics tend to be involved in the emotions of voters, elected officials and those who stand to benefit the most form property tax revenues. Certainly, there are additional mitigating circumstances, not solely property taxes, that have a direct impact on local revenues. Property taxes just happen to be the most visible and substantial form of revenue generation for cities and counties alike.

COVID exasperated the real and potential need for more taxes to cover shortfalls in local revenues. The federal government, as well, has stepped in to help in ways local governments were unable to do so for themselves. The political game – on the federal, state and local levels – have been in full swing as the country creeps its way out of the restrictive nature of the COVID pandemic.

Contact Info

To learn more about how property tax issues can affect your investing strategies, please reach out to Tim Feagans directly at tim.feagans@retcgroup.com.[/vc_column_text][/vc_column][/vc_row]