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Posted March 9, 2010
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Watertown, New York
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This iReport is part of an assignment:
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Property Taxes Too High, Home Values Underwater..Homeownership-Still Worth It?
People are losing their homes at tax sales because of being unable to pay their property taxes. Many retired people on fixed incomes are seeing property taxes rise so much, it's unaffordable. Many are weighing selling their home to move to where tax burdens are less.
As many homes are foreclosed on, people living in homes next to these foreclosed homes find their homes appraised values are falling and in many cases are now worth less than what they owe.
The Dream of owning a home for many Americans, has become a nightmare. Many people have lost their jobs and can't pay their mortgages, let alone their property taxes.
A lifetime of investment is being lost for many, with government sitting by while banks refuse to refinance homes.
More needs to be done to address this crisis. A national program to help homeowners whom find themselves in this situation needs to be enacted quickly.
Property taxes are rising at a time when people can least afford it. Falling revenues from sales tax has made states raise property taxes so much that many feel they no longer own their homes but simply rent them from the government. Miss your tax payments, and they will sell your home at tax sale.
One retired couple tells their story on PBS's NOW. They support the T.E.A. Party movement. Maybe this is why so many are turning to this new party to voice their anger:
What do you think of this story?
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