You mean as a percentage? Sure, it will stay flat, but you will pay more if your 300K house is now worth $375K due to the improved schools instead of $325K due to normal inflation. I do realize that house values reflect many other things however.mattaudio wrote:Not if the improved school quality results in improved neighborhood desirability that inflates everyone's home values. Then it would stay flat.winterfan wrote:Sure, and then your taxes would go up even higher when reassessed.
Property taxes are low in PL (assuming you're not on the lake!) compared to other metro suburbs. The 300K house in PL might be 3200/yr, whereas the same house would be 3800 or 4000/yr in other suburbs. Maybe people buy there for that reason. I don't know. The extra tax owed may impact their budgets significantly. Or maybe they think the trade off isn't worth it. Maybe they just want a good enough school district for their kids and don't care if their kiddo's first grade class has 28 kids instead of 22.
I have no dog in this fight, btw. My city prop taxes are higher than any suburb, lol. I'm just playing devil's advocate as to why people would vote no. I have no idea why they didn't pass it. The only thing I read was that the vote no contingent thought the cost of the six new gymnasiums was excessive.