The SCOTUS decision reduces my property values, therefore I think we have a case for having property taxes reduced.
What happens if your property is Zoned Residential and the town wants a mall?
Wow! Good one!
I tend to agree with you on the surface, but if your taxes are lowered it is all the more reason to confiscate your land and give it to someone else according to SCOTUS.
It's quite simple. The town hires a firm to determine that the property in question qualifies as a redevelopment zone. Change the zoning codes from residential to commercial and viola they can seize your property and build a mall.
It really is that simple. It almost happened to me.
I think there is a very good argument not for not paying property taxes, but that that the assessed value of your home used for calculation of the property taxes MUST be keyed in to what the government pays you if they take your house via eminent domain.
And I think there's a case for substantial reduction..."Gee, I could get $50k on the market when I'm ready to sell in ten years, but you schmoes could come in tomorrow and take it for $25, so, I guess $25k's the top value."