With home prices up more than 50%, some states try to contain property taxes

By DAVID A. LIEB
Associated Press

Rising home values have led to higher real estate taxes around the U.S. Now many states are looking to provide relief to frustrated residents. New laws enacted in Alabama, Colorado and Wyoming will limit the growth in tax-assessed values for homeowners. A Kansas special session on tax cuts is to start June 18. Nebraska also could hold a special session on property taxes. Proposals to curb property taxes also will appear on ballots this year in Colorado and Georgia. The movement comes as single-family home prices have risen more than 50% during the past five years.