In the Midwest, property taxes are usually only assessed and only spent by local governments: school boards; cities; townships; and counties. The money all stays within the county. Assessed value ofter trails market value by several years. Read your tax assessment or talk to your county assessor to find out why your taxes changes so much.
When state governments make drastic cuts in aid to local governments in an effort to balance or reduce the state budget, local (property) taxes usually go up drastically to make up the difference in revenue.
Many states offer property tax rebates to people on fixed incomes, check with your tax accountant or state tax department. You may need to live in the house all year to qualify for a rebate i.e., if you sell before 1-1-2015 no rebate for 2014.
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Today's Featured Article - Tractor Profile: Farmall M - by Staff. H so that mountable implements were interchaneable. The Farmall M was most popular with large-acreage row-crop farmers. It was powered by either a high-compression gas engine or a distillate version with lower compression. Options included the Lift-All hydraulic system, a belt pulley, PTO, rubber tires, starter, lights and a swinging drawbar. It could be ordered in the high-crop, wide-front or tricycle configurations. The high-crop version was called a Model MV.
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