Mass. Property tax bills soar as services fall

The Boston Globe reports:

Residential property taxes rose an average of $161 in cities and towns across the state in the past fiscal year, as home assessments hit historic highs despite declining market values.

The average property tax bill for a single-family home hit $3,962, up 4.2 percent from the previous year. Taxes climbed 7 percent or higher in more than 65 communities, according to data from the state Department of Revenue.

Since 2000, property taxes have shot up nearly 50 percent, from $2,679, far outpacing gains in wages, which climbed 30 percent statewide over the same period, according to the US Bureau of Labor Statistics. Over the past seven years, the average annual property tax hikes for homeowners have ranged from about $150 to nearly $215.

Taxpayers are being asked to pay more at a time when they are seeing local services decline, as cities and towns struggle to cover rising healthcare, utility, and pension costs. It comes at a time when the assessed value of their homes has begun to exceed the actual value, because of the decline in the housing market.

This stems from the fact that the 2007 valuation is based on a January 2006 assessment, which reflects home values in 2005, when the market was more robust.

Your house is an income stream for their big spending budget.Imagine that: you really don't own your house.You keep paying ever increasing rent to the government.