My brother owns a home in Maryland. It is worth in the neighborhood of $700,000 and his property taxes are roughly $4,000 per year.
I own property in Racine. It was assessed at $478,000 and my tax bill was over $11,500.
The Maryland property has a tax rate of approximately $5.70 per $1,000 of property value while my tax rate was over $24 per $1,000 of value. Racine residents pay over four times the property tax than does my brother in Maryland.
Now my question for readers, especially liberals, is this: How do property tax rates affect property value and the behavior of property owners?