Tax Increases to Speed Up Foreclosure Crisis?

With recent news that the Keller ISD will raise taxes to cover part of their budget shortfall for 08-09 and news that they will ask for another huge increase with a new bond, the question is will this increase the foreclosure rate in North Fort Worth?

The School District is asking the citizens to pay over $370 extra per year in taxes on an average home at a time that foreclosures west of 377 are at an all time high.  The New York Times has an article today stating that the foreclosure rate for non sub prime loans have doubled nationwide, showing that there might be some contagion from the sub prime mess. 

Meanwhile, City of Keller residents will most likely see a tax increase this year on top of the hidden tax of increased valuations.  So, in the end will the huge tax increases we are having to cope with speed up the crisis?  Only time will tell.


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