The next shock for homeowners: Surging property tax assessments
CBSN
Anne Van Donsel said she didn't quite believe it when her hometown of Burlington, Vermont, last year sent her a new property tax assessment stating that the value of her home had doubled — raising her property taxes by 20%.
Her property taxes jumped to about $12,000 a year, up from $10,000, a bump she said is adding to the financial strain as inflation pushes up the cost of food and other necessities. While Van Donsel appealed the assessment, she was given only a small reduction in the value of her home, which didn't make a dent in her new tax bill.
"I hadn't planned on spending thousands of dollars more on property taxes for the year," said Van Donsel, 59, a state employee.
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