On Point with Meghna Chakrabarti Should states cut their property taxes?
Oct 27, 2025
Jared Walzak, Vice President at the Tax Foundation, discusses the significant rise in property taxes and compares today’s abolition efforts to the 1970s tax revolt. Carla Wagner, a realtor and founder of Axe My Tax, shares her experiences with Michigan's property tax challenges and the push for tax repeal to aid homeowners. Noblesville Mayor Chris Jensen explains Indiana's recent legislation to cut property taxes while facing budget shortfalls, emphasizing the delicate balance between tax cuts and funding essential services.
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Homeowner Pushed Out By Rising Taxes
- John Mara watched his property tax rise from about $2,000 to $13,000 over 25 years and then spike again during the pandemic.
- He feared losing his home on a fixed Social Security income because taxes outpaced his cash flow.
Property Taxes Fund Local Services
- Property taxes fund most local services including schools, police, and fire departments.
- Over 70% of local tax revenue nationwide comes from property taxes, so repeal would remove a major funding source.
Pandemic Jump In Assessed Values
- Assessed property values rose dramatically since the pandemic, averaging over 50% nationally.
- Large local variation means some places saw values double, producing steep tax increases if rates didn't fall.