Homes in poor neighborhoods are taxed at roughly twice the rate of those in rich areas, study shows
Published March 12
This April 13, 2019, file photo, shows homes in suburban Salt Lake City. Homeowners in America’s poorest neighborhoods face effective property tax rates roughly double those levied on the richest ones, according to a new study. (AP Photo/Rick Bowmer, File)
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Homeowners in America’s poorest neighborhoods face effective property tax rates roughly double those levied on the richest ones, according to a massive new study by a University of Chicago researcher.
In theory, all homeowners in a given jurisdiction are subject to the same property tax rate, regardless of home value. But the methodology cities use to assess property values skews the final effective tax rates dramatically: Some homes are assigned considerably lower assessments than their actual market prices, while others are given much higher valuations.