How would you respond to decrease in value? If a state...


January 06, 2002

How would you respond to decrease in value?

If a state official came to your door and said, "We are going to take away 25 percent of the value of your property (home, land)" what would be your reaction? What would be the reaction of the bank if you had a loan on the value of your property? Would you wonder if the type of government had changed when you were not paying attention? Would you say, "I have paid taxes on 100 percent of the value of my property - not 75 percent. Will you give me back 25 percent of the tax money I have been taxed over the number of years that I paid taxes on my property? Will my taxes now be reduced by 25 percent on my property value, if I am required to give 25 percent of my property rights away?" Will I say this is OK because it does not effect me? Don't count on it!

Ed Wheatley


The author is a member of the Planning & Zoning Commission.

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