The House's tweak to the property tax
bill angered leadership in the Senate and partially led to the special session.
Oregon's property tax
system has a number of shortcomings.
Yet we need to recognize that there is a danger in further encouraging the use of the property tax
; state and local governments are already overusing the federal government's debt financing subsidy, including for financings secured by property tax
Taxpayers in Nassau County pay the highest property taxes
in the nation, with a median property tax
bill of $8,478 per household.
In addition to granting property tax
relief, the fund would promote fiscal stability by providing an additional incentive for communities to save taxpayer dollars.
A Chicago Reporter analysis of the Illinois State Board of Education data shows that school districts with the lowest property tax
rates generated much more in local revenue per pupil than those with property tax
rates two, three, and even five times higher.
The past three decades have witnessed a significant drop in property tax
revenues as a share of municipal revenues (see chart).
It is interesting to note, however, that the major political opposition has coalesced in states like Vermont which, like California, chose to equalize school funding by means of a statewide property tax
Finally, states with abundant natural resources - like Alaska and Wyoming - have high property tax
levels but low resident tax burdens because they can export property taxes
to nonresidents through taxes on energy or mining companies.
Far-reaching proposals to replace the property tax
for schools have been considered this year in South Carolina, Vermont and Wisconsin.
Francis today to discuss the elimination of the state portion of the property tax
levy for the first time since 1931 and other property tax