How about real estate taxes ? (appraisal, housing, percentage, prices)

[NYtoVT]

An interesting thought. For those localities that tax real property at fair market value or a percentage of fair market value, what's going to be the impact of declining housing prices on the local municipal budgets. Are we going to see more tax grievances ?. One would think that smart homeowners would get appraisals and fight the local tax assessors. Thoughts ?

[yellowsnow]

I'm sure that will be happening. I did it once and it was easy. All I had to do was get the comps that had sold in the last 6 months and contrast them to my home.

BTW, I think LOTS of people will be doing this and the realtors were charging $100 to do the CMA for folks. That was back in the 80's so I'm sure you could charge more now.

[magellan]

People are already starting to do that in our area. If you live in a high-growth area, the municipalities were getting "fat on the hog" on overinflated property values, so their time is due to cut back just like the rest of us.