Cut real estate property taxes to stimulate the economy

Posted by Jason Ciment

Thursday, 12.25.2008 11:35am

See what my younger brother wrote today to the Miami Herald which published it as a letter to the editor:

Cut property taxes

Want to immediately stimulate the economy and help desperate, out-of-work contractors, mortgage brokers, bankers, architects, real-estate brokers and countless others?

The government should pass an emergency tax cut on all residential real estate, effective immediately.

Cut the millage rate by half and watch how many people start buying homes. Even at prices down by more than 30 percent, a large percentage of mortgages’ monthly payment is property taxes.

It’s just that simple.

AVI CIMENT, Miami Beach

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