Will Parker
speaker
780 appearances
18 recordings
1 series
first heard May 2019
last heard Nov 2024
Will Parker’s voice in public audio — every appearance, attributed to the second.
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Appearances
But by far, the biggest one was Georgia.
And that one will change property taxes there pretty significantly.
It's happening now because of how much home prices and home values have risen.
In a state like Georgia, you've had home values rise some 60% in five years.
So that means that the assessed value of homes for tax purposes can rise a lot really quickly.
And other costs for homeowners have gone up.
They've faced inflation in other ways.
They've had insurance costs go up, costs of maintenance, utilities.
And the big swell up in property taxes is another rising cost that they are contending with.
And we've seen this happen in American history before.
In the 1970s, another inflationary period, you had a similar kind of property tax revolt from China.
middle-class, upper-middle-class homeowners in places like California and Massachusetts who voted for ballot measures that restricted the growth in property taxes in some way.
And this is really another phase of that.
There's a company called Adam Data that showed that last year there was a 7% increase in that, which for a single year, it was quite significant.
It was a larger year-over-year increase than had been seen in a long time.
This is a person who moved from one area of suburban Atlanta to another largely for property tax reasons.
He was living in a county that had a higher tax rate, moved to Cobb County where he would pay lower taxes, bought a house in 2020, which was, depending on when you got in, pretty good time to buy a home in most parts of America.
You hadn't seen the huge takeoff in prices yet, and you still could get a mortgage for less than 4%.
So he did that, but since that time, the value of his home has risen quite a lot.
and he finally got a new tax assessment that told him that your house has risen about 30% in value, and so your tax bill is going to be 25% higher now.
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