District 39 Tax Referendum: Good only for the Recession Unaffected
"I'm always amused by the argument that increasing taxes for schools will support high housing values.(Wilmette Life, 2.10.11) Given our declining property values, I can see why that is an attractive argument. If that really is how the housing market works, why not double or triple the taxes! People fail to think about what happens to property values when property tax bills exceed annual mortgage payments. That's when housing prices will be "discount" in order to offset the tax burden faced by any purchasers. Who wants to further discount the price of their home in this depressed market? Not me. I'm not supporting District 39's referendum."