With property taxA property tax is primarily levied on immovable property like land and buildings, as well as on tangible personal property that is movable, like vehicles and equipment. Property taxes are the single largest source of state and local revenue in the U.S. and help fund schools, roads, police, and other services. bills on the rise, homeowners are searching for answers—and some even want to abolish the taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. altogether. In this episode, we break down why property taxes are increasing, discuss common but flawed solutions, and explain why the property tax remains an economically efficient revenue source.
Senior Policy Analyst Manish Bhatt joins hosts Kyle Hulehan and Erica York to explore levy limits, circuit breakers, and policy reforms that could provide relief without distorting the housing market. Tune in for a deep dive into the future of property taxes!
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