U.S. state and local property-tax collections dropped in the last three months of 2010 by the most since home prices peaked more than four years ago, slowing the overall growth in government revenue.
Real-estate-tax collections, a main source of income for cities, slid $5.3 billion, or 2.9 percent, from a year earlier to $177.1 billion, the Census Bureau reported today. The drop exceeded a 2.5 percent decline in the first quarter of 2010, the data show............................................Full Article: Source
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