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31 Aug 2006, 8:01 am
In a nutshell a circuit breaker protects low-income residents from a property tax "overload" just like an electric circuit breaker: when a property tax bill exceeds a certain percentage of a taxpayer's income, the circuit breaker reduces property taxes in excess of this "overload" level.One of the reasons why people so dislike property taxes is because they aren't based on people's ability to pay. [read post]
