Sunday, August 22, 2010

Property Tax Death Spiral - Rotation Has Begun!

That was an article in today's Boston Globe.

Of course, nowhere in it do the authors mention *pensions* - the elephant in the over-mortgaged room. I emailed one of them about that oversight and he just said that it *was a separate issue for the future*.

Color me shocked!

The story says increasing property taxes are to *pay for new buildings* and *services*.


Here's pretty much all one needs to glean from this poor excuse for journalism:

Since 2000, average property taxes on single-family homes in Massachusetts have increased about 64 percent.

People my age haven't felt that squeeze as we're relatively young and still in the ascendant part of our careers.

But for those who rely on a fixed income, the done-nothing stock market, or interest income....these rising property tax bills are killers AND, often, one-way tickets to cinder block homes in lower cost states.

1 comment:

Paul Mitchell said...

64% in ten years? Inconceivable!