Replies to post #53240 on Zeev's Turnips Patch-No Politics (ZEEV)

[brainlessone]

I think increased state taxes and especially property taxes are the same as increasing mortgage rates or decreasing home values.

an increase of 3000 dollars a year on property taxes for a property of 500000 is the same as as raising the price by 250 dollars a month on the mortgage payment or about 50,000 dollars of phantom home value. just what happened in the 30's