Property taxes are the most despised tax in America, according to the National Council of State Legislatures. A recent analysis by ABC News shows that property taxes disproportionately affect some homeowners, with those in black or brown neighborhoods paying more. This issue could worsen as municipalities seek to raise revenue.
President Trump’s OBBBA cuts federal funding for local governments, leading to potential service cuts or higher property taxes. Homeowners could see larger tax bills, especially those already overtaxed. To address unfair assessments, review valuation notices, gather evidence, and file an appeal with your county.
In Cook County, commercial property owners had more success appealing property taxes than residential owners. Homeowners in high-income areas appeal 46% of the time, compared to 11% in low-income areas. If you live in a non-white, low-income neighborhood, carefully examine your property tax bill and consider an appeal.
Read more at Yahoo Finance: Unfair ‘highball’ property taxes are forcing some Americans out of their homes. Are you getting ‘highballed’ too?