Texas voters said no to property tax hikes this week
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Property taxes hit $3,500 median nationwide in 2024, but some states pay far less. West Virginia leads with just $728 annually, while New Jersey homeowners pay a median of $9,413.
Counties and cities borrow billions of dollars for all kinds of expensive projects. They pledge future property tax revenues to pay back their lenders. Gov. Ron DeSantis wants to reduce or eliminate some property taxes,
The increase comes after 11 of Long Island’s 13 towns raised property taxes for this current fiscal year. Smithtown was not one of them, but city authorities recently proposed a plan to increase property taxes for residents by 9 percent.