Property Taxes Will Increase

Property Taxes Are About to Rise

The 2020 housing boom may “take a couple of years to fully translate into dramatically higher property tax bills because counties usually reassess property values every few years, often three-year intervals,” Brian Davis of Spark Rental, which provides software for housing providers, told realtor.com®.

About 34 states restrict how much taxes can increase in a single year too, providing some level of protection to homeowners. For example, California limits that assessed home values cannot grow more than 2% in a year until the home is sold

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