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Should taxpayers get more help when communities conduct property revaluations?
Some local taxpayers can be in for a shock when communities conduct property reevaluations, potentially resulting in a drastic change in property values that in turn affect residents’ tax bills.
In Augusta, skyrocketing home sales prices could require the city to conduct a property revaluation that in the current market is expected to increase residential property values and taxes, while lowering the tax burden on commercial properties. City officials are concerned the potential shift in the property tax burden could force some residents out of their homes. Some residents, officials fear, may have now-more-valuable homes but low incomes and thus difficulty paying a higher property tax bill.
But what do you think? Should officials be providing additional assistance or help to those whose property values become much higher, resulting in bigger tax bills?
Tell us what you think in the comments below.
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