The Property Tax: Unsung Hero

It is not news that state tax revenues have been absolutely hammered in the current economic downturn. But you may be surprised to learn that one local tax has held up relatively well. It is, of all things, the property tax. How can that be, you ask, if so much of the economic mess was caused by a collapse of a housing bubble?

Last week a Tax Policy Center conference on the housing crisis and its impact on state and local governments took a close look at why. (more)