November 22, 2013

I believe as a real estate agent I should advocate for property rights.

One of those rights, I believe, is for the value of property to be protected.

I believe governments feel the same way. This is part of the reason why they adopt building codes, zoning ordinances and various other rules and regulations.  But what can happen when those codes and ordinances are not followed or routinely enforced? Houses get run down. Neighborhoods run down. Property values decrease.  

And to off set the decrease in property tax revenue due to the declining values, we see increases the property tax rate in an effort to make up the difference. 

Case in point, the property tax rate in Commerce has gone up almost 40% in 10 years.