While the local legacy media remain predictable members of Governor Napolitano's Amen Chorus, the Wall Street Journal is pointing out that six years into the Napolitano administration, the state is in terrible fiscal shape and the Governor is raising your property taxes.
Arizona has been hit hard hit by the real-estate bust, with the average home value down 17% in a year and a record number of foreclosures. So Democratic Governor Janet Napolitano has devised a clever way to revive the housing market: Raise property taxes.
Higher property taxes impose a double whammy on those at risk of losing their homes. First, they act as a tax surcharge on homeownership. And second, when the tax hikes aren't tied to better public services, they reduce housing values, thus reducing owner equity.
Meanwhile, the Governor is tapping every accounting gimmick available in an effort to push the day of fiscal reckoning past the end of her term. The next Governor will be saddled with a multi-billion dollar deficit, an empty rainy day fund and all other available funds "swept" and spent. New revenue for the foreseeable future will be allocated to paying back accounting tricks like the school roll over and paying extra interest on the state's debt.
Now that's what I call leadership.