The property tax bills have been mailed and homeowners should have received them by now.
1) Will that induce investors and homeowners to get rid of their properties.
2) Will they hang on until next year hoping for an upturn? If an upturn doesn’t materialize in 2008 (which in doubt it will), will they cut their loses in earnest next year.
A house in Del Sur can easily have a $20,000 property tax bill plus monthly holding costs. Is holding for brighter days even an option? What about all the empty condos downtown?
It certainly can’t help matters. Many times the taxes are rolled into the monthly payment, so for people who have been paying that, it is not going to be the straw the breaks the camel’s back. The most vulnerable recent buyers with little or no equity probably have impounds.
It certainly can’t help matters. Many times the taxes are rolled into the monthly payment, so for people who have been paying that, it is not going to be the straw the breaks the camel’s back. The most vulnerable recent buyers with little or no equity probably have impounds.
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