One of the worst hit sectors in the recent worldwide slump is possibly the real estate. U.S is no exception to the real estate slump. However, there are signs of revival. The government coffers were left with a big hole during the slump as no purchases were made and income from property tax dried up. States like Florida was probably hit hard the most from the slump.
In Miami-Dade County, the local mayor has already cited a property tax hike to fill up a budget deficit of $400 million to government coffers. Florida is a state with no income tax but the main source of government income is from property taxes. A veteran Miami realtor Alex Shay has shown disappointment at suggested increase in property tax.
As per a 1990 measure an amount was
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