Will County Taxes Rise if Property Values Drop?
By Deb Brooks
(Brooks Prime Properties Wichita Falls Texas)
This question can be posed for just about any County on the map. This is an unusual Market Report. But, our Market may see changes very quickly. Montgomery County is truly being affected at this point. This is really a scary question to ask since it does have an answer. First of all what would or could cause the property values to drop? Obviously the economy has something to do with it as the Lender's hesitation to loan money causes a higher demand for qualified Buyers. So, it's a given that prices will drop when there are more Sellers and less Buyers. At this point a verifiable qualified Buyer has a great deal of strength. With less Buyers, less homes will sell. Prices drop out of basic need for a sale and "voila" we have a Buyer's Market.The question is, "will our County Taxes rise if...
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