As inflation continues to boom, we can expect property taxes to do the same.
Paying more for property taxes makes buying a house (an already difficult task) even harder. Throw in the fact that interest rates will be raised several more times over the course of the next 12 months, and more and more of potential buyers' dollars will be going to things other than the actual homes for sale.
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The governor's budget leans heavily on one-time revenues, including $1.8 billion in federal funding and a $1.35 billion withdrawal from the state's $3.5 billion "rainy day" fund.