Taxes Assessments Delayed Drop

Posted on July 4th, 2011 in Market Conditions.

Taxe assessments to be dropping -it often takes several years for property tax assessments to catch up with the state of the housing market, the real impact of the housing implosion is only now being felt in many city budgets.
For the first time since the Great Recession began, property tax collections fell during the last three months of 2010, according to an analysis of data by the Rockefeller Institute, and many mayors expect the declines to continue.