A broken system

MAY 21, 2021 | by Howard Husock, E.J. McMahon | CITY JOURNAL

By Howard Husock and E.J. McMahon, includes “Real estate taxation, the main source of revenue for local governments across the United States, rests on the technical and arcane—yet crucial—process of property reassessment. … A recent University of Chicago study of property-tax-valuation practices across the country chose to emphasize the impact of unchanged assessments on minority homeowners, who are more likely to live in lower-priced homes. In fact, out-of-date assessments skew property taxes for all homeowners.”