States Consider Eliminating Property Taxes

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property tax

Newsweek

•

Business

Business & Economics

Map Shows Battle Against Property Tax Across US States

Summary

Nutrition label

81% Informative

Four states, including Florida , Illinois , Kansas and Pennsylvania , have plans to eliminate property taxes entirely.

Others, including Texas and Montana , are trying to significantly reduce them.

The movement to reduce property taxes is "largely a response to the run-up in house prices, particularly in the suburbs and exurbs," expert says.

Tax professionals and business executives expect to see their federal tax bills to be cut with an extension of the Trump tax cuts.

Eliminating property taxes would force state and local governments to make tough decisions about what programs to cut funding from.

Replacing property taxes with state sales taxes would make the tax system much more regressive and reduce the degree to which local governments are responsible for producing their own revenue.

VR Score

Informative language

Neutral language

Article tone

informal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful