Do you really own your home if you have to pay property taxes forever?

[Offthemat]

4 hours ago, Caveira said:

when does the government have to work on being efficient instead of taxing us into oblivion.

We need to severely reduce debt spending while we can do it voluntarily. 
 

I would think that homestead exemption could be modified to prevent elderly retirees from losing their homes. 

[Husker_Du]

all i know is that taxes & insurance is more than the principal in my mortgage.

and that a lot of poor people pay to rent - not because they can't afford to buy (they're paying more than the mortgage, obviously) but b/c they don't have the credit. 

i'd like to see something change.

[red viking]

14 minutes ago, Offthemat said:

We need to severely reduce debt spending while we can do it voluntarily. 
 

I would think that homestead exemption could be modified to prevent elderly retirees from losing their homes. 

Elderly retirees can sell their homes and downsize to a condo or apartment if they can't afford the house. Why is this such a big deal for somebody that doesn't even work and their kids moved out already? 

Edited Sunday at 07:29 PM by red viking

[Caveira]

3 minutes ago, red viking said:

Elderly retirees can sell their homes and downsize to a condo or apartment if they can't afford the house. Why is this such a big deal for somebody that doesn't even work and their kids moved out already? 

Because they already own their freakin house.   The gov is corrupt wasteful and taxing the daylights out of the population.  
 

I shouldn’t pay more taxes on the same land if I put nice countertops in.  
 

if I’m a billionaire democrat governor darling who may run for president soon…. I should be in jail if I take the toilets out of my house to pay less said taxes…. All the While campaigning on and literally raising everyone else’s property taxes.  

[Tripnsweep]

18 hours ago, Husker_Du said:

typical responses by the utterly idiotic resident socialists.

if you really wanted to help the middle/lower class, you'd be against property taxes.

the barrier to entry for first time homeowners is dramatically worsened by them. it effects generations. it effects zoning. it effects the entire community and culture.

there are plenty of other tax revenues to cover for real estate, which is a tax on what, exactly? of the land you purchased merely existing? 

but of course you effin birdbrains couldn't extrapolate that, could you? 

Because property taxes pay for education. I'd rather live in an area that has good schools. 

[Caveira]

2 minutes ago, Tripnsweep said:

Because property taxes pay for education. I'd rather live in an area that has good schools. 

Public schools are absolute trash.   Especially in big blue cities.  You would really rather life in an area with good private schools if you want to get ahead.  

[Husker_Du]

5 minutes ago, Tripnsweep said:

Because property taxes pay for education. I'd rather live in an area that has good schools. 

there's no other solution? there's no other tax rev stream that it could come from?

[Caveira]

4 minutes ago, Husker_Du said:

there's no other solution? there's no other tax rev stream that it could come from?

In 2024, Chicago considered a proposed $300 million property tax increase to address budget shortfalls and support migrants…..

….

 

I’m sure it goes to the schools.  Only the schools.  And only for reading writing and arithmetic.  

[red viking]

27 minutes ago, Caveira said:

Because they already own their freakin house.   The gov is corrupt wasteful and taxing the daylights out of the population.  
 

I shouldn’t pay more taxes on the same land if I put nice countertops in.  
 

if I’m a billionaire democrat governor darling who may run for president soon…. I should be in jail if I take the toilets out of my house to pay less said taxes…. All the While campaigning on and literally raising everyone else’s property taxes.  

I just don't think you get it. If you make old people exempt from property taxes, then everybody will just sell their properties to their parents and old people will never move out until they die. 

Older people already get social security. Now you want to exempt them from property taxes? Half of thrm are millionaires too. While young families struggle to get by? No way that's right. 

ANY reduction of property taxes, even if it's only for a "special class" of people, will jack up property values farther out of reach of ordinary people that actually have to work for a living. 

[ionel]

6 minutes ago, Husker_Du said:

there's no other solution? there's no other tax rev stream that it could come from?

Pretty sure Indiana shifted (15/20 yr ago) some of the education funding from property to income tax.

Course Illinois started a lottery to fund education thus why they are in such fine shape.  

[red viking]

9 minutes ago, ionel said:

Pretty sure Indiana shifted (15/20 yr ago) some of the education funding from property to income tax.

Course Illinois started a lottery to fund education thus why they are in such fine shape.  

How many states DONT have property taxes? After you answer that one, then you may want to think about why. 

[Tripnsweep]

16 minutes ago, Husker_Du said:

there's no other solution? there's no other tax rev stream that it could come from?

I think it's a great idea. Actually because of it we had one of the greatest schemes ever pulled off in this state. 

About 3-4 hours driving way up in the White Mountains, there's a small town called Eagar, which has like 4k people living there. Well the high school was tired of the weather, plus cost to maintain the football field and track. It's at a high elevation and gets really cold and snows. The school board got together, and somebody figured out that a large utility company actually paid over 90% of the property taxes within the district. 

So they decided to put a referendum on the ballot to increase property taxes or mandate a one time to payment to build a brand new domed stadium for the high school. The first and I think only one in America. Of course the utility company tried to stop it, filed lawsuits, etc. But in the end they had to fork over I think 9.5 million of the 11 million it cost to build. This was in the early 90's. 

So if I pay a little more in property taxes because it goes to the school, then I'm good with that. 

[ionel]

3 minutes ago, red viking said:

How many states DONT have property taxes? After you answer that one, then you may want to think about why. 

No idea what that has to do with my post.

FYI there are states that have personal propert tax.  

[Tripnsweep]

This is what it looks like.

[red viking]

5 minutes ago, ionel said:

FYI there are states that have personal propert tax.  

Those are ok but the taxes on land and buildings are still the greatest of all taxes. The true KING of taxes. 

These are great in so many ways, assuming that you realize that taxes are 100% necessary anyway. 

Edited Sunday at 08:32 PM by red viking

[Offthemat]

48 minutes ago, red viking said:

Elderly retirees can sell their homes and downsize

That should be an option, not a necessity due to taxation.  Where do you get the idea that reducing property taxes, reducing the cost of owning property, benefits the rich over the lower income buyers?  I’m talking about a single residence, non-income producing property.  If a person owns two or more properties, only one qualifies.  If you sell your property to your mother to avoid taxes then you and/or her get to go to jail with Letittya James. 

[red viking]

8 minutes ago, Offthemat said:

That should be an option, not a necessity due to taxation.  Where do you get the idea that reducing property taxes, reducing the cost of owning property, benefits the rich over the lower income buyers?  I’m talking about a single residence, non-income producing property.  If a person owns two or more properties, only one qualifies.  If you sell your property to your mother to avoid taxes then you and/or her get to go to jail with Letittya James. 

Retirees already get social security. Why put even more burden on young families than they already have? 

Retirees don't need 3 bedroom homes w 1/4 acre to themselves. They're not "entitled" to anything. If they can't afford the home taxes then they'll be perfectly fine in a condo or apartment. 

This will still drive up home prices quite a bit because the elderly will refuse to ever leave their homes. More young families get stuck in apartments. 

Land ( that you can live on) is a finite resource so this absolutely impacts house prices, making the rich richer. 

Edited Sunday at 08:41 PM by red viking

[Caveira]

1 minute ago, red viking said:

Retirees already get social security. Why put even more burden on young families than they already have? 

Retirees don't need 3 bedroom homes w 1/4 acre to themselves. They're not "entitled" to anything. If they can't afford the home taxes then they'll be perfectly fine in a condo or apartment. 

This will still drive up home prices quite a bit because the elderly will refuse to ever leave their homes. More young families get stuck in apartments. 

Communists are bonkers.  You’re not entitled To the shyte you purchased.  Laughable.  

[ionel]

8 minutes ago, red viking said:

Those are ok but the taxes on land and buildings are still the greatest of all taxes. The true KING of taxes. 

These are great in so many ways, assuming that you realize that taxes are 100% necessary anyway. 

I pay much more in income tax than property tax and I have property in two states.  

[Caveira]

2 minutes ago, ionel said:

I pay much more in income tax than property tax and I have property in two states.  

60+% of every dollar I earn ends up going to the corrupt wasteful govt.   

num nuts talked about social security.   As if they’re not fast tracking bankrupting that too.   

Edited Sunday at 08:43 PM by Caveira

[ionel]

1 minute ago, Caveira said:

60+% of every dollar I earn ends up going to the corrupt wasteful govt.   

... have you asked to be paid in pesos? 

[red viking]

1 minute ago, Caveira said:

num nuts talked about social security.   As if they’re not fast tracking bankrupting that too.   

Social security can be easily fixed. Increase premiums and/or eliminate benefits for rich people. It's very simple. 

 

[red viking]

3 minutes ago, Caveira said:

60+% of every dollar I earn ends up going to the corrupt wasteful govt.   

num nuts talked about social security.   As if they’re not fast tracking bankrupting that too.   

It's your problem you live in openly corrupt Chicago. That was your choice. Vast majority of cities aren't nearly that bad. 

[Caveira]

2 minutes ago, red viking said:

It's your problem you live in openly corrupt Chicago. That was your choice. Vast majority of cities aren't nearly that bad. 

At least 2/3 of my tax $ goes to the federal govt boss.  

[red viking]

6 minutes ago, Caveira said:

Communists are bonkers.  You’re not entitled To the shyte you purchased.  Laughable.  

You are entitled to it but land is a finite resource that everybody wants. Therefore you gotta pay your taxes on it. It's very simple. 

Good luck finding an affordable lot to purchase after they become tax exempt. An ounce of gold will be worth a,square cm of land.