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Why would the county want to bring forth a bond issue, especially a property tax (general obligation) bond in the middle of a recession? Property taxes are a real burden since they never go down but always up.
As a landlord, I have seen the taxes go up in the face of falling property values. Once upon a time, capital gains were a source of retirement income but now they are no longer a prime source.
The prospect of federal increases in capital gains really socks it to the landlords and increases rent. Any new tax now is a negative influence on the economy — the leisure pool can wait.
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