How do property tax increases affect homeowners over time?

Property tax increases can affect homeowners over time in several ways. Firstly, as property taxes are usually based on the value of the property, any increase in the property's value can lead to higher taxes. This means that over time, as the value of the property increases, so too will the property taxes.

Additionally, property tax increases can impact a homeowner's ability to pay their mortgage. If property taxes increase significantly, it can cause a homeowner's monthly mortgage payment to increase as well, which can make it harder to keep up with mortgage payments.

Finally, property tax increases can impact a homeowner's ability to sell their home in the future. Higher property taxes can make a home less attractive to potential buyers, especially if the taxes are significantly higher than in neighboring areas. This can make it harder to sell a home and can lead to a longer time on the market.