Property taxes should be equitable.
Property tax relief should be equitable, cost-effective, and targeted to homeowners with low and moderate incomes burdened by their property tax bill.
Housing is central to community and individual well-being. The type and location of a home can affect almost every aspect of a person’s life.
Prior to finalizing annual budget decisions, localities should inform taxpayers of the property tax rate required to maintain revenues at the same level as the prior year.
Policymakers should take action to raise revenues, promote energy conservation, and reduce climate change.
States should adequately fund and broaden their methods of financing public education. Education financing should be shifted from property taxes to less regressive forms of taxation.
States should generally avoid arbitrary limitations on property taxes.
Tax reform should focus on raising sufficient revenue. It should make the tax system more equitable and efficient. Reforms should:
States should increase the progressive nature of their income tax systems.
Reforming business taxes, such as corporate tax or a tax on the financial industry, should be considered in any effort to raise additional revenue.