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If someone donated a new stove, we would move that to 75 percent of market value, and it's down to 30 percent for something old and used. What the group did was change how local and state government financed programs, shifting away from the arcane and complicated property tax method in effect at the time - where taxes were figured on 25 percent of a property's market value - to a flat rate of 1 percent of market value. With homes costing about 1 percent of market value per month to operate, a three-month wait in a level market can take a year of appreciation out of your pocket. |
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