But with state budgets under pressure and various strains of tax reform fever sweeping state capitols, some politicians and public finance experts are arguing that it would be fairer if seniors carried more of the load.

FORBES: State Tax Breaks For Seniors On The Chopping Block

Nationally, 59% of councils have accepted the government's offer of a grant in return for a freeze in council tax, according to a survey by the Chartered Institute of Public Finance and Accountancy.

BBC: Lincoln City Hall

Although this is a race for the United States Senate, his platform focuses on local issues: bringing new businesses to the state and attacking a 1997 property-tax law intended to help finance better public education.

ECONOMIST: Vermont��s Senate race

The tax would raise an estimated 57 billion euros a year and help rebuild public finance.

FORBES: G20 Says No Threat Of Recession Yet

He has held public office only twice, as finance minister for a year in 1993, and as head of the tax service for three months in 1998.

ECONOMIST: Face value

Eventually, she rose to senior managing director at Bear Stearns, working in municipal finance and helping the Denver International Airport, the New York State Thruway Authority and other public entities to sell tax-exempt bonds.

FORBES: Life After Wall Street