Quote:
Originally Posted by Rick Lee
I dunno. How would you feel if you were trying to buy the house nextdoor now and it was your first home? You pay 2.5x more in property tax for the same house and same services. Is that fair?
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That's exactly the situation in FL, where homes can be homesteaded and prop tax increased are capped...
On the one hand, I am grateful that I am paying taxes on the value of the house when I bought it - it went up since, and down again, but mostly up. On the other hand, my neighbor's been there for 20 years, same size house, and he pays less than 1/2 of what I pay... Fair ? Dunno, I can argue both systems (FL and CA) both ways... I wonder how our kids will ever afford a home though !
What annoyed me the most before I had a kid was paying about 1/2 my $10K prop tax to local schools and getting nothing in return ! ;-)
The very concept of property tax bothers me no end, it is very un-American... You bought the place, yet you need a job just to finance your prop tax. It's a rent on your own home ! I'd much prefer a state tax or a tax on actual consumption, a sales tax that would replace federal and state + county + city.... Make it 20%, I don't care. If you play, you play, if not the bills stop !
My other neighbor pays $16K a year in property tax. If he were to lose his job, there's no way for him to stay in his home... it's wrong ! Say what you will about foreign countries and "socialist" Europe, but over there property tax is a joke compared to the states... Very small amount. You DO pay more income tax, but should the $hit hit the fan, you may not lose your house so readily ! You own it...
I'd prefer higher income/sales tax and ZERO property taxes. Most people don't "feel" this pinch because it part of the mortgage...