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Tuesday, March 30, 2004
Connecticut state "leaders" (the term is used loosely) want to give homeowners in Hartford a $75,000 tax exemption for their homes. Some even want to extend the program statewide. This is in response to a 60 percent property revaluation for the coming fiscal year. So far, the bill has not gotten enough votes to get it out of committee. Let's hope that it doesn't escape.
For all their effort, the legislators are missing the point. It is admirable to want to relieve some of the tax burden for homeowners. I am a homeowner, and I would love to pay less property tax. Right now, nearly 25% of my mortgage is property tax. However, passing the burden to someone else, especially to businesses, is flawed.
Why? There has already been an exodus of businesses to other towns. Lower property tax rates will inevitably draw more businesses, thus providing more local jobs. A more simple option, one which is displeasing to political types, is to lower expenditures.
Sorry, lawmakers. You can't continue to plunder the public largesse. It's time to cut expenses, and quit robbing us blind.Labels: Archives_2004
.: posted by
Dave
4:59 PM
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