While homeowners and businesses are prone to deride the property tax, the tax everyone loves to hate has many virtues. Over the holiday weekend, The New York Times published an article discussing why economists have a favorable disposition toward property taxes. The article, titled “The Inevitable, Indispensable Property Tax”highlights the reliability of the property tax as well as its lack of negative impact on the economy. While the sales and income tax often encourage people to change behavior that otherwise benefits the economy in order to avoid taxation, the same is not as true of the property tax. The property tax is reliable because real property cannot be moved and lasts a long time. The property tax is also stable. The property tax was the only major state and local government tax that held up during the Great Recession. The property tax is also less regressive than the sales tax. Finally, the property tax can be controlled locally, while sales and income taxes are generally imposed across a large geographic area. In light of the continued weakness in sales and income taxes in the aftermath of the recession, state and local governments have found solace in property taxes as an efficient and reliable source of revenue.