Property Taxes Dropping
By: NBC News
Updated: March 14, 2012
A USA Today analysis has found that more than five years after real estate prices began to plummet, American homeowners are finally starting to get a property tax break on their devalued homes.
The paper cites numbers from the Federal Bureau of Economic Analysis that shows property tax collections last year rose just 1.2 percent, but when adjusted for inflation, actually declined 0.9 percent.
What may be good news for the homeowner isn't so good for public schools, though -- schools get about 40 percent of the money.
The paper cites numbers from the Federal Bureau of Economic Analysis that shows property tax collections last year rose just 1.2 percent, but when adjusted for inflation, actually declined 0.9 percent.
What may be good news for the homeowner isn't so good for public schools, though -- schools get about 40 percent of the money.
