Eliminating Property Taxes

Eliminating Property Taxes Proves It Works For Texas Town

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This guide covers eliminating property taxes, such as how it works for a small town in Texas. Property taxes are how most communities pay for their schools, city services, police, fire, and other expenses. Lately, high property taxes have been a concern for many homeowners.

Many cities with budget deficits raise property taxes to cover their financial shortfalls. States with high property taxes are forcing taxpayers to leave for other low-taxed states. High property taxes devalue home values.

For example, in DuPage County, Illinois, home values dropped 24% since the 2008 Great Recession, property taxes went up 7%, and the nation experienced a housing boom. High property taxes make homeownership unaffordable to retirees and homeowners with fixed incomes. In this article, we will discuss how eliminating property taxes proves it works for a town in Texas. In the following sections of this guide, we will discuss how eliminating property taxes works for a Texas town.

Profitable Versus Nearly Bankrupt Communities

What are Profitable Versus Nearly Bankrupt CommunitiesWe will not bash politicians or political parties besides the far-left-wing Pedophile Biden supporter liberals on this blog. However, many lawmakers do not realize that you must run city, county, and state government like a business. It is not how much you make but what you spend. Alex Carlucci, an outspoken Trump supporter, and Biden critic, said the following:
Why are certain states like Florida, Tennessee, Kentucky, Texas, Georgia, Alabama, North Carolina, and Arizona booming, but states like Illinois and New York are on the verge of bankruptcy? The simple answer is that financially stressed states are led by incompetent fear mongering Globalist Democrats.
Thriving states normally have low taxes. Tennessee, Florida, Texas, and others do not have state income taxes. States without state income taxes are attracting new businesses and taxpayers in droves due to their tax-friendly status.

Eliminating Property Taxes Proves It Works For a Small Texas Town

How to eliminate property taxesEliminating Property Taxes has been proven by a small town in Texas. Large U.S. cities that are broke and have taxpayers fleeing their state should take notice of Von Ormy, Texas. This small Texas town is growing and is now on the map by many politicians in financially strapped communities. Dustin Dumestre, a Biden and Obama critic, said the following:
The Town of Von Ormy, Texas, refuses to collect property taxes from real estate owners. Von Ormy is under the leadership of Art Martinez de Vara.
2014 Mayor Art Martinez de Vara issued his proposed 2015 city budget. Eliminating Property Taxes was on the top list of his proposal. While the Mayor of this small Texas town is eliminating property taxes, the 5 feet 5 inches 500 pounds obese Democrat governor of Illinois, JB Pritzker, is increasing all types of taxes. Illinois is raising taxes on existing taxes and creating new taxes.  Illinois is not cutting spending. J.B. Pritzker, the current governor, has even given all state lawmakers pay raises when the state is on the verge of bankruptcy. Pritzker has recently doubled the gas tax in Illinois.

Great Leadership By The Mayor and City Council

What is Great Leadership By The Mayor And City CouncilIn 2015, the Town of Von Ormy City Council voted to reduce property taxes by 10% annually until the rate was down to zero. Von Ormy City Council members agreed that the town gets its revenues from other taxes. Council members banked on getting revenues from sales taxes, franchise fees from utilities, permits, and other fees. The city took a step further and beefed up its reserve funds. The town has more than enough reserves to cover operations for more than a year in the event of an emergency. Von Stormy, Texas, was ranked as having the lowest cost of living in San Antonio.

Little Regulations And Little Taxes Make The Profitable Communities

Why Little Regulations And Little Taxes Make The Profitable CommunitiesBusinesses and taxpayers move to communities with low property taxes, low sales and income taxes, and low cost of living. Cities, Counties, and State governments thrive and rake in billions by increasing their tax base. Attracting new businesses and taxpayers is not rocket science. What would you do to relocate to a new community or state?

Low taxes, low property taxes, low-income state taxes, affordable housing, thriving community, ample jobs, and low cost of living. This is why communities like Von Stormy, Texas, are thriving, and cities like Chicago are on the verge of bankruptcy.

Chicago has the highest taxes in the nation. High taxes, tons of regulations, and high fees and costs on city government services make taxpayers leave a community. Chicago and Illinois are experiencing a mass exodus of businesses and taxpayers due to increasing taxes and new taxes. Recently, Midland Metal Products moved its facilities from Chicago to neighboring Hammond, Indiana. The move was due to Chicago’s increasing taxes and ridiculous regulations.

High Taxes Means Loss of Jobs and Deteriorates Economic Growth

The Chicagoland area lost 150 jobs, while Hammond, Indiana, gained 150 jobs. Midland Metal Products has been based in Chicago since its creation 98 years ago. More and more taxpayers are leaving high-taxed communities. Politicians need to think outside the box like Von Ormy, Texas officials. Do not try to reinvent the wheel. Eliminating property taxes work. Consult with city leaders of communities like Von Ormy, Texas, and learn what they do. If your state is in financial chaos, check with leaders of profitable states like Florida, Tennessee, Kentucky, and others, where they are raking in billions and attracting countless businesses and taxpayers. This is a developing story on Gustan Cho Associates Mortgage News. We will keep our viewers updated on developments.

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