On Thursday, the Miami-Dade county commissioners were asked to set the county’s proposed property tax rate. They took the easy way out and voted to take no position at all. The commissioners left it to the Miami- Dade property appraisers to decide the preliminary tax rate. It will be detailed in notices mailed to property owners next month. The 13 member board, voted to adjourn their meeting, after they declined to set the rate themselves. A huge drop in taxable property sales values has given Miami-Dade County a budget hole estimated over $400 million. Cutting services or raising property taxes to plug in for the gap are proving extremely unpopular. “For the first time in history – at least as far as I can remember – the commission has not come up with a preliminary millage rate,” said Miami Dade Commissioner Carlos Gimenez, who voted against adjournment. “Without a doubt, we abdicated our duties.” Major Carlos Alvarez submitted his budget on the last day he is legally allowed under state law (July 15th). The commissioners who voted to end the meeting said they needed more time to study the mayor’s proposed budget. With that comes, a lot of job cuts and pay reductions. As well as, a small tax increase. “We just got the proposed budget a week ago,” said Commissioner Bruno Barreiro. “This is a $7 billion budget. We need time.”

In New Jersey, lawmakers passed a @29 billion budget on Thursday night that will increase taxes by almost $1 billion. It will eliminate property-tax deductions for the wealthiest residents and remove billions from health care, higher education and other programs. The grow of the new revenue in the budget, will come from a one year increase in the income tax on people making more than $400,000, more or less from about 61,000 residents. Taxes will also go up by 12.5 cents per pack on cigarettes and 25 percent on hard liquor and wine.

For the people that are making more than $250,000 a year they will no longer be able to deduct their property taxes, at least for a year. For the people making between $150,000 and $250,000 they can only deduct a maximum of $5,000 a year. As for the people making, less than the state median income of $82,000 they stand to be largely spared. You can see a perfect example of that in the property tax rebate program. The program can put up to $1,000 back in homeowners’ pockets. During this year the program will be limited to household earning less than $75,000. As for last year, they limited to $150,000 and two years ago $250,000.

Group Fights High Property Tax bills
02-17-09 http://www.myfoxatlanta.com/ddp/news/Property Tax Assessment 021709

In Atlanta, a group of business owners are fighting back against property tax increases. According to them, their tax bills have increased by two to three hundred percent. The business owners don’t understand why their assessed property values and tax bills have sky rocketed while the economy is in the tank. Many property owners believe these increased property taxes could force them to close down their doors for good. 9,000 property owners in South Fulton County are appealing their property taxes.

Vermont Ranks High in Property Taxes
12-17-08 http://www.wcax.com/Global/story.asp?s=9539790

Property taxes have been sky rocketing intensely. Vermont ranks high in property taxes. A national study shows that the citizens in Vermont pay some of the highest property taxes in the whole country. According to the tax foundation, four counties in Vermont rank in the top 100 nationally for the highest median property taxes. Chittenden County is 61 on the list. It has median tax bill of $3,809. Three other counties from Vermont make up the top 100.

Property owners seek to cut taxes
02-28-09 http://www.lvrj.com/news/40469207.html

Thousands if people across America have been seeking lower assessed values. Almost 6,000 people within the last month have been asking to get their taxes lowered in Las Vegas. From billion dollar casino companies to humble homeowners argued that their properties’ assessed values should be reduced to better match the plummeting market prices of this past year. Therefore, they should all be receiving smaller tax bills.

A few thousand owners resolved their cases with the county assessor’s staff and avoided hearing. While other thousands appealed directly to the Clark County Board of Equalization. In previous years a few dozen appellants might attend hearing. Whereas today almost 300 people are being scheduled to appear.

The board cut the assessed value of the hotel in Palms Place to $4.4 million from $73 million. Several years ago, tax increases were capped at 4 percent on owner occupied homes and 8 percent on commercial properties, based on 2004-2005 values.

Tax increases revealed in the state’s budget last week will hit hard especially, on Long Island. Many residents will find it more difficult to keep up with their extremely high property taxes. Governor David A. Paterson and the states legislative leaders agreed to raise taxes immensely on high income earners, while eliminating property tax rebates, in order to help close the state’s $17 billion budget gap.

The changes have brought some chaos into the Long Island Suburbs. Which are home to many wealthy residents. They have some of the highest property taxes in the country! The budget isn’t entirely dark and gloomy. Based on cuts the governor originally proposed, suburban service organizations and school districts were preparing for a serious decline in state aid. The new version of the budget will still result in cuts, but end up focusing more on increasing the states source of in income revenue.

Eliminating property tax rebates, will save the state $1.5 billion, while the new income tax brackets for the highest earners, will bring in another $4 billion. The income tax will also affect Long Island’s large community of small businesses, many of which report their earnings as income.