Property taxes don't reflect market
At what point will property taxes reflect the slumping real estate market, depressed real estate values and the overall tanking economy?
That was the question taxpayers repeatedly asked the Hubbard County Board of Appeal & Equalization Monday.
The answer was: Don't hold your breath. It could take a few years.
The flip side of the coin was how do assessors value property when there are few or no comparable sales by which to measure declining property values?
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