Property-tax bills up despite drop in home values

“I can’t afford any increase in my bills now,” said Arlene Morales, who lost her job with a home builder late last year and has been working temporary jobs to pay her mortgage. She has been working with her lender for the past five months, trying to get her loan modified and payment lowered. “How can my property taxes go up when I can’t even sell my home for half of what, when it was new, I paid in 2004?”

She said the taxes on her south Phoenix home climbed $79.

“Higher property taxes are just one issue for homeowners struggling to pay their bills, especially their mortgages,” said Jay Butler, director of realty studies at Arizona State University. “Homeowners should see the big decreases in their property taxes next year based on the lag in valuations, but municipalities are going to be looking at more tax increases.”

via Property-tax bills up despite drop in home values.

via Property-tax bills up despite drop in home values.

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