Hmm, I didn't even realize property taxes were rising significantly.  I mean, they always rise, just like everything else.

Every little bit of an extra expense puts more stress on the buying power.

They are a part of the PITI calculation lenders use to qualify applicants. Taxes and insurance are taking on a bigger role in that calculation and unlikely to be lower any time soon. 

Our property taxes cannot increase by more than 5% annually. We voted that in 12 years ago

Buyers may be forced to purchase a little less house Bo Zivak or they may be surprised at what it costs to live in a popular area.

We just qualified for a 100% property tax credit due to my age. Before we qualified we were discussing moving to the country or to another county. It's a shame when you live in a home for twenty years or more yet you never really own your home because of the property taxes. When you have a fixed income due to retirement it's not fair that you can lose your home that you paid for because you can not afford taxes on it.

Can you imagine that you had to pay taxes annually for life on everything you purchased? Just like you need a roof over your head you need clothing... can you imagine the rebellion there would be if you had to pay taxes on those new blue jeans annually as long as you owned them?

We recently received our real estate tax bill...$10,400+. Many will struggle to pay their tax bills this year.

Very sobering math these property taxes are. If you can get past insurance costs, down payment shock, lender rates, repairs, utilities & all the rest, large TAXES take no prisoners! Definitely could be a deal killer 

Hold on, I'll grab my calculator to demonstrate.

They are part of the problem regarding affordability,  out of control.  

Likely not any more so or less so than the high prices of everything else! 

A major factor in affordability to either buy or rent.

The property tax rate is California is 1% of the purchase price and is capped at a growth rate of 2% of the tax annually. In the expensive areas of Ca. where prices have soared, the cost of the purchase is impacted by the property tax.

Now...the cost of insurance, if you get it, is also spiraling upwards.

They've greatly impacted things - especially in states like here in CA where they coincide with purchase price - my real estate taxes more than doubled when I bought my home, from relatively affordable to insanely high.  

Can't wait until people wake up and say ENOUGH

We are not seeing the 'significant' property tax increases NEARLY as badly as we are seeing insurance rates rising. That has definitely impacted a few deals that I know of.

Property taxes AND insurance has increased substantially in Denver.

Property taxes don't affect the ability to buy nearly as much as interest rates and as far as renting, there doesn't seem to be a lack of renters.

I was just going to list a large luxurious home for someone who wanted to downsize into a smaller home and....the client  learned out how much taxes and insurance  he has to pay....the end of the story. He will stay in the large house he purchased 20 y. back. 

p.s. in Los Angeles county the property taxes are approx. 1.25% of a purchase price. For reference: they say the average price of a home is about 970k. 

In Nebraska, there are out-of-session political debates regarding the Governor's plan to reduce real estate taxes significantly.  Yes, it affects our region greatly!

People need to live somewhere, they fill find the money to pay the taxes.