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<p>[QUOTE=&quot;medoraman, post: 1300808, member: 26302&quot;]Its a good point. The local municipalities will just keep taxing until the taxpayers revolt, but if you are in a location where the majority are on the dole, who is going to do that? I am very serious that people in the major towns are in danger. Their house can be taxed into worthlessness, it has happened before. I am just saying I would not wish to live in major cities, or a few states, if I actually wanted to count on my house being worth anything. You house value is directly affected by property taxes, since most borrowers only worry about monthly payments. </p><p><br /></p><p>I have friends who bought houses in such areas, and their house keeps going down every year, even before the latest housing crisis. One friend had property taxes of $3k a year 12 years ago, today its $11k. Even with low interest rates, every $1000 of higher taxes lowers your property value about $10k roughly.</p><p><br /></p><p>Chris[/QUOTE]</p><p><br /></p>

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