In the Midwest, property taxes are usually only assessed and only spent by local governments: school boards; cities; townships; and counties. The money all stays within the county. Assessed value ofter trails market value by several years. Read your tax assessment or talk to your county assessor to find out why your taxes changes so much.
When state governments make drastic cuts in aid to local governments in an effort to balance or reduce the state budget, local (property) taxes usually go up drastically to make up the difference in revenue.
Many states offer property tax rebates to people on fixed incomes, check with your tax accountant or state tax department. You may need to live in the house all year to qualify for a rebate i.e., if you sell before 1-1-2015 no rebate for 2014.
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Today's Featured Article - Talk of the Town: The Pefect Collection - by Staff. Another neat discussion from the Tractor Talk Discussion Forum. The discussion started out with the following post: " I thought it would make for some interesting discussion for many of you to post what would be considered your dream or perfect antique tractor collection of five tractors, assuming room for storage and cost were not a factor. I have posted my "Perfect Collection" on the Farmall board. List any brand preference but keep
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