UChicago News: Property tax burdens fall on nation’s lowest-income homeowners, study finds

UChicago News: Property tax burdens fall on nation’s lowest-income homeowners, study finds. “The Center for Municipal Finance at the University of Chicago Harris School of Public Policy has completed a nationwide analysis revealing that property taxes—which generate roughly $500 billion and represent the single largest revenue source for local governments each year—are inequitable, with the burden falling disproportionally on owners of the least valuable homes in most counties, cities, and other taxing jurisdictions across the United States…. Using data from millions of residential real estate transactions between 2007 and 2017, [Professor Christopher] Berry—who directs the Center for Municipal Finance and is the William J. and Alicia Townsend Friedman Professor at Harris Public Policy—developed the nationwide analysis and a new tool, searchable by county and city, which looks at property tax records for communities around the U.S.”

Leave a Reply

%d bloggers like this: