What effect will the mortgage meltdown enjoy on my property taxes?
Answers:
Probably not much overall effect. If property values wrapping up up going down, your town/city/county still have to terminate up next to roughly like amount of revenue that it did in the past, so what will more than feasible fall up going on, is that what your property is worth may diminution, but the amount per $1,000 of plus that your community will tariff you will move about up, so you will termination up paying roughly in taxes what you did since. If your state have a consideration as to how much the amount per $1,000 can justifiably walk up (Massachusetts have Proposition 2 1/2) after your community will enjoy to cut it's budget and moderate services, make higher the money from fees and charge more for services, or go by a tariff override to lift the rate more (if possible). The community still have one and the same bills to clear whether your property go down or not, so they will find the money from you by some means.
nothing taxes will other turn up
Since property values are not assessed at 100% of a properties value, any drop off surrounded by significance should own no effect.
Generally that won't enjoy a significant impact on local property taxes.