Reply to Why is City of Baltimore stealing houses from Black residents?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]This article is poorly written. Property tax rates are inversely related to assessed values for homes. When properties are worth less money they township or city needs to have a higher assessed rate to cover its expenses. The taxes are not necessarily "higher than what they should be", it's just that the property tax rate needed to cover community operating expenses is higher when the average assessed value of homes is 250k vs 1M.  Eg. The median home value in Baltimore City is 220k, and the property tax rate is 2.24%. In MOCO, the Median property value is 660k and the median property tax district rate is 1.25%. [/quote]

Curiously, that rarely happens. Governments always find new things to do. Governments always want to expand existing programs. If house prices go down , they want to expand assistance programs. If house prices go up, they want to offer new services.

Governments sole purpose anymore is to simply grow. [/quote]

To your point:

Property Tax Assessments vs Market Values

[i]The researchers find that property tax revenues are stable even during periods of significant real estate market volatility. …This disconnect appears strategic rather than incidental as counties are significantly more likely to reassess properties upward during market growth than to reduce assessments during a downturn.[/i]

https://www.nber.org/digest/202503/property-tax-assessments-vs-market-values[/quote]

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