The Property Tax Conundrum

Editor's note: As a special feature for April, TheStreet.com offers a series of 20 stories on everything you need to know about real estate. Today's installment is Part 7.

Property values shot up all over the country during the recent housing market boom, and so did property tax bills. The increased burden is fueling homeowner outrage, prompting reform efforts that could drastically alter tax policies in many states.

Even though housing prices in many parts of the country are now cooling, property tax hikes are unlikely to slow, making a bad situation for homeowners even worse. ...