Apr 11 2006
There are 2 very important things to remember:
1-You will continue to get a property tax bill on your home. All of the proposals only eliminate the school operating expense in exchange for an increase in sales taxes. The school operating expense is the lion’s share of your tax bill. You will continue to be taxed to fund local government and bonded indebtedness. Since local governments and school bond indebtedness are so vastly different in each county and school district, it is virtually impossible to create a distribution formula from the state level.
2-What will prevent an increase in the remaining property taxes? This is my biggest fear. 20 years from now, will the remaining property taxes creep back up? Then we have high property taxes and high sales taxes. There are some millage caps and assessment caps, but will these be enough? There is very little effort to slow down the ever increasing appetite for spending from government at all levels.