On Oct 12, 6:57*pm, Wes wrote:
"olddog" wrote:
I donno. They can be helpful in keeping property values up. The NA we had
usually only had to put notes on peoples doors but sometimes more coaxing
was necessary.

Since most locals have property taxes, what is the benefit of high property values? *When
my place is converted to cash, I'll be dead. *

Wes


There is a popular misconception that if all the properties in a
community were to be valued at twice as much, then the taxes would be
2X. In most cases, this is simply not true. Around here (NJ)
people go nuts when there is an upcoming property revaluation, because
they think when there property is revalued higher, they are going to
pay a lot more in tax. What determines local property taxes is the
amount of money that the community needs to operate. So, if
community X needs $20mil to run, they are going to get $20mil
regardless of what the total valuations are. If all the properties
get revalued to 2X what they were to bring them in line with current
market value, the tax rate then gets cut in half, resulting in the
same amount of revenue to the municipality.