BKP talks about property taxes and assessments
Property Tax: There is no way that your county officials, your state officials (department of revenue) that didn’t not realize assessments would be higher than reality. They all knew that assessments would be higher than reality. Your property assessment is so you as collateral can be more valuable to the state for bond purchase.
They take the assessments across the county to determine the value of the county. There are very strict rules on assessments. They take the data to the bondholder to get the money to build things. All county and state officials know your property taxes are based on false numbers. If they really cared about you, they wouldn’t have sent the check back to you. They would have said they want to protect the property owners. The assessments in 2008 had the same thing with high assessments then took a nosedive. They have to take in as much as they can so that in the next 3 years they can sustain their high budgets while property taxes take another fall.
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