The Domino

Posted March 21, 2008 * Comments(1)

Falling home prices are not just bad for the homeowner. Falling real estate prices also result in falling property tax revenue. As reported in the LA Times, tax officials in SoCal are now seeing lower property assessments, which will result in lower taxes. While the lower value assessment may provide some relief to homeowner it will probably won’t last long. The local government will end up with a budget shortfall. And governments usually find a way to make up for lost income.

1 Comment so far

  1. Debt on March 22nd, 2008

    Hi,
    I like the way you write ..Its really different and interesting … keep the momentum going ..I hope tis will really going to help me in future..The contented and economically comfortable have a very discriminating view of government. Nobody is ever indignant about bailing out failed banks and failed savings and loans associations. But when taxes must be paid for the lower middle class and poor, the government assumes an aspect of wickedness.
    brilliant. .

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