Reply to Elrich property tax increase

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[quote=Anonymous][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]

You didn't consider incomes taxes too, duh. It makes MoCo was less attractive to live in, and it is already a bedroom community.[/quote]

You're not considering the consistent under-assessment of properties in Maryland due to a broken assessment system.[/quote]

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