Thursday, December 23, 2010

Pensions Push Taxes Higher : Cities Tap Homeowners for Revenue as Workers' Retirement, Health Costs Rise

The Wall Street Journal reports:
Property-tax increases aren't unusual, in part because the taxes are among the main sources of local revenue. But officials say more and larger increases are taking hold. "This year we have seen a dramatic increase in our cities and towns having to increase property taxes" for pensions and other expenses, said Jack Garner, executive director of the Pennsylvania League of Cities and Municipalities.
Your house is their pension.