Advantages and Disadvantages
of Property Taxes

In its 2010 Standard on Property Tax Policy, the International Association of Assessing Officers outlined some of the good and bad points associated with property taxes. The report explains there is no such thing as a perfect tax. Despite the many problems associated with property taxes, they can be appealed, which is not the case with sales and income taxes.

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Florida - Amendment 3 Removed
From Ballot

The Florida Supreme Court upheld a lower-court ruling striking Amendment 3 from the Nov. 2 ballot because
the summary and title are misleading. Amendment 3 seeks to lower the assessment cap for non-homestead property and give an additional tax break to homeowners in the first year.

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Michigan Targets Misclassified
Industrial Properties

As part of a massive investigation by the state Tax Commission, classification appeals have been filed against 10,000 industrial properties throughout Michigan. If owners lose their industrial classification, they face higher business and personal property taxes.

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Washington – Problems in Pierce County

The assessor in Pierce County (Tacoma) issued a
public declaration last month stating that taxpayers
who appeal should get a break because the county’s
tax rolls are so corrupt. The problem stems from a
lack of physical inspections that should have been
performed under the previous assessor. The new
administration doesn’t expect to be caught up with
the required inspections until 2014.

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West Virginia Studies Eliminating
Business Personal Property Taxes

With neighboring states offering personal property tax exemptions to businesses, the State of West Virginia
is studying whether to follow suit. Some say eliminating
the tax will improve the state’s business climate, while
others are concerned about the millions of dollars local
counties may lose.