Friday, December 05, 2008

Why do my property taxes go up?

You might wonder, in this time of declining home values, why your property taxes continue to climb or, in the very least,not go down?

It's because the same laws that protect taxes from increasing in high velocity market periods, are the same laws that keep taxes from adjusting downward in a declining market.

To determine whether this is the case in your area, contact your local tax assessor's office and get familiar with your local laws regarding your tax assessments.

In Albuquerque contact The Bernalillo County Assessor's office for Albuquerque real estate tax information.
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