Taxpayers must be protected from unchecked growth in local government spending. Statewide limits on tax increases would do that while forcing local governments to live within their means. Iowa, where local governments will collect a combined $6.4 billion in property taxes this fiscal year, illustrates the potential impact of such a reform. Over the past two decades property tax collections in the state have increased by close to 110 percent, surpassing both inflation and population growth.

The post The Blueprint for Property Tax Reform: Spending Restraint appeared first on ITR Foundation.