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The state legislators property tax solution may be starting to take affect. You may recall the push for a Constitutional amendment to cap property taxes at 1% of the assessed value for residential properties, 2% for agricultural properties, and 3% for business properties. <\/p>
A lot of Democrats worried that it would limit the government's ability to collect enough money to fund everything they wanted to fund. A lot of Republicans claimed it was the only way to protect property owners. A lot of people, (Libertarians mostly, I think) worried that if the caps took effect, and even if the sales tax was raised 16%, the assessed value could change enough to negate any savings the property owners might temporarily receive.<\/p>
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