I was just opening this conversation up off line and I can say that many homeowners are going to be paying much more in property taxes if the assessed market value matches the true market value. The disparity is not a phenomenon specific to commercial real estate...as a REALTOR, I'd prefer the boat not be rocked - we talk about affordable housing being a goal, we should welcome ways to keep homeownership affordable (i.e. low property taxes)
And since spending leads taxes, that is, higher spending leads to higher taxes, we ought to work at reducing City expenditures if we want to keep property taxes low and, thus, homeownership more affordable.
Scott McGerik Hawthorne http://scott.mcgerik.com/
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