will the property rates come down in 2009?
I mean due to financial breake down will the realestate come down in the coming year.
down trend not likely. it may stay in present level or in the upward movement
the present recession pushed everything to lowest end
considering the fuel price at below $50 and indexes of various stock markets which are also at record low in the recent years, every thing will tend increase only in the year ahead.
February 18th, 2010 at 2:23 pm
It has to in view of the recession.
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February 18th, 2010 at 2:36 pm
I doubt it since municipalities need more money to meet their expenditures. Operating expenses keep increasing. Insurance, demand and State Mandates plus social programs have a stronghold on taxpayers wallets
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February 18th, 2010 at 3:12 pm
Doubt it. What will happen is the values will come down so the tax assessments will come down as well. So what they will do is increase the tax rate to accommodate the decrease in values.
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February 18th, 2010 at 3:59 pm
Property VALUES may decline, however property tax RATES will usually RISE when that happens. The property tax rate is determined by dividing the budget into the total property valuation base. When values drop, rates rise unless spending is also cut by the same amount of the drop in value. Unless there’s a lot of fat that can be cut from the budget, that rarely happens.
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February 18th, 2010 at 4:07 pm
If the house price rise, the property rates will rise proportionately.
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February 18th, 2010 at 4:21 pm
down trend not likely. it may stay in present level or in the upward movement
the present recession pushed everything to lowest end
considering the fuel price at below $50 and indexes of various stock markets which are also at record low in the recent years, every thing will tend increase only in the year ahead.
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February 18th, 2010 at 5:09 pm
Yes. All economists say that the real estate market wil decline much further until the end of 2010. I was planning to buy a house and talked to a Realtor, but changed my mind. The Realtor was pressuring me to buy because she believed the prices were going to go up right away. But since then the prices have gone even lower. I am going to wait for at least another two years.
You don’t have to be a genius to know that the economy is in a terrible shape and it won’t get fixed for a long time.
I believe home prices could become half of what they are now.
The global economy is in a situation never seen before, since the Great Depression.
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February 18th, 2010 at 5:27 pm
Every day populations is increasing and demand for property is always high – there will not be any rates falling down but its right to buy a property.
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http://www.ninty8.com