Montana's solution to rising property values: taxing wealthy, out-of-state homeowners
3 weeks ago

Montana's solution to rising property values: taxing wealthy, out-of-state homeowners

NPR  

Montana's solution to rising property values: taxing wealthy, out-of-state homeowners As property values rise, Montana is seeking to cut taxes for most properties but raise them for out-of-state homeowners. RAGAR: Nationwide, property values have climbed 27% faster than inflation since 2020, according to the Tax Foundation, a business-friendly tax policy group. RAGAR: Karlen is sponsoring a different bill - a tax credit back on homeowners' and renters' income tax bills proportionate to their cost of housing. KARLEN: Let's say a household income of $75,000, and why don't we say a property tax bill of 4,500.

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Georgia measure would cap increases in homes' taxable value to curb higher property taxes
5 months, 1 week ago

Georgia measure would cap increases in homes' taxable value to curb higher property taxes

The Independent  

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State tax cutting trend faces headwinds from declining revenues and tighter budgets
1 year, 2 months ago

State tax cutting trend faces headwinds from declining revenues and tighter budgets

Associated Press  

— Income, sales, property and gas taxes: Almost every U.S. state cut at least one such broad-based tax as budget surpluses soared over the past three years. But in general, as tax collections slow, “we’re seeing the impacts of widespread tax cuts being implemented across states,” said Justin Theal, a state fiscal policy officer for the nonprofit Pew Charitable Trusts. …

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