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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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.
Modern Repeal Movement Is More Radical
- Current repeal talks combine sharp tax increases with a longer-standing anti-property-tax sentiment.
- That mix produces more radical proposals now than the assessment-limit reforms of the 1970s and 1980s.
Replacement Taxes Would Be Massive
- Replacing property tax revenue requires very large increases in other taxes and creates distribution challenges.
- For example, Ohio would need an additional ~8.35% income tax or Florida a ~15% sales tax to fully replace property levies.