Call Grows to Cap Property Taxes

Jennifer Levitz:

Support for property-tax rollbacks is building from Arizona to New York, fueled by angry homeowners in some locales who are seeing rising tax bills despite plunging home prices.
Legislatures in New York, Georgia, Oklahoma and Wyoming are considering taking up proposals to curb property taxes in their 2009 sessions. In Indiana, a cap on property taxes enacted last year became effective Jan. 1, and lawmakers are planning to vote this year on whether to put before voters a constitutional amendment that would cap taxes permanently at 1% of a property’s value.
In recent months, citizen groups in Montana, Nevada and Arizona have organized to get property-tax-relief measures on state ballots. Florida voters last year amended the state’s constitution to increase a number of property-tax exemptions, lowering their assessments.
“We just can’t afford these increases in property taxes,” said Lynne Weaver, a 59-year-old retired swimsuit saleswoman in Phoenix, who said her investment nest egg “has pretty well been cut in half” by market declines. She is a leading volunteer for Prop. 13 Arizona, an organization collecting signatures seeking a 2010 ballot measure that would roll back home valuations to 2003, before the boom that preceded the bust in home prices, and which would also cap annual property-tax increases at 2% of home value.

Related: Wistax:

Total taxes collected from Wisconsin averaged $12,281 per person in 2007-08. The $69.4 billion in annual collections was up 3.4%. Relative to personal income, however, taxes were down slightly, from 34.9% in 2007 to 34.2% in 2008.