alt Hacker NewsYes, if you don't intend to sell, and actually want to live somewhere, higher property values just mean higher taxes (or if constrained like with Prop 13, declining services).
Replies
8note • yesterday at 10:50 PM
declining services here would mean that transit station stops gwtting service though, decreasing your property value
This doesn't have to be true. Washington State, for example defines the amount of property tax revenue to be charged and then divides that in proportion to everyone's taxable value.
So if everyone's value goes up 40% your property tax bill stays the same. If your area climbed faster than others, it goes up but not by 40%.