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As home prices increase, some states are trying to control property taxes for homeowners

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During my junior year of high school, I got the same question everyone got at that age: “what do you want to be when you grow up?”

Between high interest rates and rocketing home appreciation values across the country, it has been an interesting time to be a homeowner.

According to the S&P Dow Jones Indices, national home prices have risen 64% on average over the last five years. To help ease the burden on homeowners, some states have proposed legislation to limit, cut, or offset escalating property taxes. But as Hardy points out, while the measures could save taxpayers money, they would also take away from governments that rely on the funding.

 

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