News

Property tax assessments and collections are more complex than they appear on the surface, and new revenue-growth limits and rate compression rules legislated over the past few years have added to the complexity.

Housing affordability is a statewide concern. The median price for new and existing homes combined has increased 41 percent in the last five years. This far exceeds the 28 percent increase in single-family rent and the 17 percent increase in apartment rent.

Rate lock-in describes a scenario where leveraged homeowners are disincentivized to purchase another home because prevailing interest rates sufficiently exceed the fixed rate guaranteed on their existing mortgage.