#property-taxes

#property-taxes

In South Dakota, many elderly homeowners struggle with rising property taxes due to increased property values, often while living on fixed incomes and facing basic living costs.

The report highlights that almost half of Americans can save on property taxes by protesting their assessments, with 40.5% of properties potentially benefitting nationwide.

"We have an aging population, and a lot of people on lower income in that age range, and it's just an incredibly unfair burden to put on them," House Minority Leader Billy Bob Faulkingham (R-Winter Harbor) told WGME.

Despite knowing about their rights, only 22% of homeowners have challenged their property assessment, leading to a significant knowledge gap about tax appeals.

Property taxes are sort of a beautiful tax, the value of your home going up is great, but it also means your property tax bill is probably going to go up.

"Property taxes are the greatest contributor to revenue for local governments, providing essential funds for things like schools, roads, and fire prevention."

"In the southeastern part of the United States, mainly in Florida, the median property tax payment is soaring due to higher home values, escalating natural disasters, and population growth."

Gov. Maura Healey signed a new law in Massachusetts preventing cities from keeping excess equity of foreclosed properties beyond what's owed, returning it to the previous owners instead.