The drop in mortgage interest rates reported in March, the first time in four years that rates fell below 6.0 percent, was welcome news that was followed by an uptick in mortgage applications. However, falling rates are far from the only factor that could help rein in housing costs. Aside from deregulatory reforms that help grow the supply of housing, consider the ongoing efforts by governors and legislators across the country, particularly in some of the nation’s fastest growing states, to tame rising property tax bills.
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Growth-Focused States Move To Rein In Property Taxes
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