“[M]any localities set a revenue target to meet expenditure needs and then vary the tax rate to meet this target, conditional on the tax base,” the study said.No wonder, then, when asked by Gallup what they considered to be the least fair tax, the percent of Americans who chose the local property tax has nearly doubled, from 24% in 1988 to 42% in 2005.Live big or small in the Best PlaceOf course, counties with higher property taxes tend to spend more on things like education and public services. They may also have higher priced homes. Or they may be higher simply because the local government isn’t bringing in other major sources of revenue, like an income tax.”In general, localities in states with high property tax burdens tend to have little or no other local taxes,” the Tax Policy Center study noted.CNNMoney (New York) First published November 25, 2013: 7:21 AM ETContact UsClosed CaptioningSite MapMost stock quote data provided by BATS.
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