Did anyone else receive a notice from their mortgage company that due to past or projected tax increases your escrow will be short and they will be increasing your monthly house payment? Did any renters receive rent increases?
I am 81 years old and live on a fixed income. When we moved to Idaho Falls my house payment on my modest house was under $800 per month and now it is over $1100 per month. Why? A slight change in insurance cost and a big increase in property taxes.
As the county says your home is worth more your out of pocket taxes go up even when elected officials proudly claim they are “keeping the levy rate the same.” A constant levy rate, coupled with increased values, is a tax hike. Elected officials, boards, etc., should be lowering their levy rates proportional to the rate of value increase to keep what we pay constant. Novel idea, I know.
Some say, well, at least your house is worth more. That means nothing to me because if I sell it my next house in the area has gone up also, so I gain no financial advantage and only increasing taxes.
Whenever there is a new or increased expenditure proposed at any level of government be aware we all are paying for it with higher taxes, even if the “levy rate will stay the same.” And remember, people like me on fixed incomes can’t afford it.