October 21, 2009
New York Times Interviews Tax Foundation Senior Economist Gerald Prante on Property Taxes
"Another Squeeze on Small Business: Rising Property Taxes"
By Jane Birnbaum
When property taxes go up, homeowners can find other homeowners willing to fight for relief. Big businesses, too, can flex their muscles. But small businesses are often left behind, mainly because they are, well, small. ...
After the 2001 recession, there were "residential property tax revolts" in a number of states including Florida and Indiana, said Gerald Prante, an economist for the Tax Foundation, a tax policy group in Washington. "In many respects, homeowners got what they wanted, and as a result there was a shift in some municipalities to higher property taxes for businesses." ...
According to the Tax Foundation, using the latest available Census Bureau data, New Jersey collected the nation's highest per-capita combined local and state property tax, $2,485, in 2007. Connecticut, where - as in New Jersey and most other states - local schools depend heavily on local property tax dollars, placed second with $2,312; New York was sixth with $1,963. Alabama collected the least, $455.
