Reply to Elrich property tax increase

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It ends up being a vicious cycle.

Revenue is down (or- Elrich can't control spending).  So what do we do?  Raise taxes.

[b]People with means vote with their feet to neighboring counties, and VA.  [/b]

Revenue is down again- and schools are a little worse, and crime is up.   So what do we do- raise taxes.

Rinse, repeat.  [/quote]

People with means would pay tens of thousands of dollars to avoid a property tax increase of a few hundred dollars per year? I mean, maybe, but it's not a rational response.[/quote]

For high earners with high value houses, the increase is substantial, especially when added every year. We got a tax assessment notice INCREASING the value of our property by $1 million dollars. The assessment is not accurate because the market has cooled down from last summer. When you add in the tax rate increase, we will be paying $12,000 MORE a year in property taxes. We will likely go from $19,000 a year in taxes to $31,000 a year. That equates to almost $2,600 in property taxes each month. I don’t expect anyone to feel sorry for us having a high value home but my point is that we are not talking about a few hundred dollars. [/quote]

OK, so, for people with very high assessed property values, it would be more than a few hundred dollars a year. Would you sell and move if your property taxes went up like that?[/quote]

Yes, if this keeps happening. This is $12000 extra in a single year. They will keep increasing taxes with multiple rounds of assessments and tax increases.  How much further does it have to go when your taxes go from $19000 per year to $31000 in a single year.?  How about up to $40k? $50k?

At some point, it makes zero sense to pay $30,40,50k in taxes just for the privilege of a zip code. People will flee en masse, and the death spiral between the need to raise taxes to plus shortfalls and flight occurs faster.[/quote]

Property taxes in Fairfax are so much higher than in Montgomery County. Stop being so dramatic.[/quote]

They're higher now, but they'd be about the same with this increase.  And VA has much much lower income taxes.  The lower MoCo property tax somewhat offset the higher income tax, but that will no longer be true.[/quote]

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