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[quote=Anonymous][quote=Anonymous]I don't get all this arguing about property taxes. I've only ever lived in various Virginia counties, but property taxes are assessed on fair market value, not what you paid in 1978. Everywhere should be like this. Its only fair. [/quote] This is why the real estate market is so distorted. It incentivizes homeowners to stay in their homes forever and pass down to their children. Inventory is so low and so expensive that it's out of reach for people trying to buy their first home or new to the state. Not to mention falling property tax revenues which have led to failing schools. But, this is what the voters want.[/quote]
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