OK, the obvious in this is going to hurt a little, but stay with me…
One, it’s no secret that foreclosure rates are increasing and real estate values are decreasing.
Two, we all know that property tax caps are fully-integrated in 2010.
Three, property taxes are determined by multiplying ‘tax value’ by ‘tax rate’.
With that said, my first question is: see where I’m going with this? If you multiply less by less, you get even less.
Next, the BIG question is: what, if anything, are Greene County officials doing now about this tax revenue cut of tsunami proportions?
Finally, the BIGGEST questions: what (or who) is going to be cut from the budget? Or, what alternative tax will be levied?
Stay tuned.
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