this post was submitted on 24 May 2026
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Late Stage Capitalism

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[–] K1nsey6@lemmy.world 2 points 1 week ago

Property taxes in most states go up based on market value of the home. If one year the market value of a home is $450k and the next year it's appraised at $475k the taxes will reflect that new amount. Property tax is based on a percentage of home value, so if I home doubles in price that taxable amount is also doubles.