Reply to New real estate assessment rates are released from State of Maryland

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Property tax assessments should only be done once every 10-20 years.  Who gives a crap what a home is worth on paper. I can't live in fake wealth on paper.  Homes are a place to live, they're not the stock market.  Constantly increasing taxes on housing creates instability for shelter. Awful.  They're just numbers on paper while people need actual places to live.  [/quote]

This is a terrible idea. You'd be forcing young families buying homes at full market value to shoulder the lions' share of the property taxes. This is what happens in California because of Prop 13 property tax freezes; its absolutely killing young families and forcing them to move out of state to affordably raise a family while some 70-something retired couple with a paid off home pay only 1/10th the amount of taxes. [/quote]

Yes, it makes it completely unaffordable for young families since they pay the entire tax burden. Fixing the property taxes like that also makes people stay in their homes a lot longer than they otherwise would, since their housing costs would increase so much to move. So you end up with retired couples staying in large family homes and generally extremely expensive housing that is completely unaffordable for everyone.[/quote]

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