Please educate yourself by doing research and looking deeper into the issue of permanently placing property tax caps into the state’s constitution. Voters will be asked to respond to this issue on the Nov. 2 ballot. Here are some points to consider:
Currently: Caps are already in effect—they are in statute—having been enacted by the General Assembly. Libraries, schools, cities and towns, counties and other local units are already operating under the 1%, 2% and 3% limits. The caps will not guarantee homeowners’ property taxes to decrease.
Popular Misconception: While the word “caps,” may entice property owners into thinking their taxes won’t increase, that is not the case. It is a cap on the taxes paid relative to the assessed value of the home. The assessed value can still rise.
Truth: While many property-tax initiatives are politically popular, they often mask a hidden truth: the revenue lost likely leads to increases in many other kinds of taxes and user fees.
Future: Understand that if the amendment is approved by your vote on November 2, it will take about five years to remove if, subsequently, it is judged to be too restrictive.
http://www.iapss-in.org/news/index.php#35
