Working part-time though even as a retiree unless you're pretty set or can almost make ends meet really isn't worth it. Hours, taxes, etc.

Now if you want to do something to do that's different.

annie88 said:

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Working part-time though even as a retiree unless you're pretty set or can almost make ends meet really isn't worth it. Hours, taxes, etc.

Now if you want to do something to do that's different.

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Not to mention some of these elderly people on fixed income could lose their distributions if they take in additional funds via a job.

TefIon Don said:

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Have property taxes end once the house is paid off. That'd be a good start.

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why? What is the underlying basis for this policy?

UTExan said:

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Ags4DaWin said:

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Manhattan said:

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I am not on a fixed income, I could go get a more demanding job and make more money tomorrow. A 70 year old is not in the same boat.

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Notice I said physically able.

Also see my points about proper retirement planning.
There are alot of 70 years who could do SOMETHING to supplement their income if they were so inclined. There are so many side hustles now it's crazy.

And not all are physical labor. In fact, most are not.

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Most 70 year olds have marked cognitive and physical coordination decline as well. They may be employable in limited situations of particular experience, but TBH, the onset of age-related arthritis and brain aging do not make them ideal employees. The best solution is probably to index taxes as a percentage of income. This is what our local county tax assessor does and there is plenty of tax revenue. Kicking them out of their homes is the least desirable outcome for everybody.

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They make great presidents though!

Admiral Adama said:

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I'm not sure what the point of taxation, or even having a civilization, if the solution is to make the elderly homeless

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The problem is 70 year old parents don't want to move In With their 45 year old children & 45 year old children also don't want it. So we pretend that old people can live alone and old people continue to live alone well beyond what is tenable. The end result is numerous everyday tragedies that were totally avoidable if people would have done the unpleasant while in their 60's instead of waiting for the crisis that will happen if they make it to their 80's

Manhattan said:

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I am not on a fixed income, I could go get a more demanding job and make more money tomorrow. A 70 year old is not in the same boat.

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Me too. I work a day or two a week because I get bored otherwise. I technically retired before 40, but it's dreadfully boring if I don't work at all. My income could go up at least $150k a year if I worked the way I used to (passive income ftw). If I need more to change my lifestyle (I live very modestly and I moved to a cheaper state), then I'd work more to pay for it, no biggie. Of course, because I worked my ass off before, I no longer have to. But nothing about my income is fixed.

Definitely agree with what you said though. Fixed, as used in the OP, obviously refers to elderly retired, where they actually no longer have legitimate options to upwardly change their income. So no, we're not all on fixed incomes as previously stated.

So living in a home for 30 years, we can all pay close to the full value of the home in taxes all over again (if not more). It's a waste of everyone's money.

HDeathstar said:

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Property tax keeps land productive. It's tough out there, but without it, a small group of rich people will own the land and we will all be renting.

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Kinda like in California? Where people can't afford to buy. And where property tax is frozen (with around 1% annual increases) based on purchase price. How's that working out for people over there? Prop 13 is absolutely a contributing factor to the state's problems, as well as contributing to the increase in property pricing. And ironically, a property tax bill in California is generally about the same amount as a modest property in Texas, despite the triple the rate without a cap like prop 13. And then add in income tax, and Texas is infinitely ahead in comparison. Hence why elderly never have properties to pay tax on to begin with in California, and majority are renters (along with everyone else), especially in the cities. So which is really worse…? Honest question.

The real solution, unfortunately is moving to a state with lower tax rates when you get closer to retirement. Hell, after moving to idaho, and getting a great property for less, my tax bill is relatively low to begin with and this year it actually DECREASED. Along with our income tax rate. When the state has enough money, which they use incredibly efficiently from first hand experience, they don't take as much from their residents. Try expecting that to happen in Texas or California.

Question for the board... Apples to apples, how much did your tax bill increase over the past 2, 3, 4 years?

Im in Harris County, for reference. Between tax year 2021 and 2022 my taxing entities did not pass any additional bonds to affect my tax rates. Klien did pass some bonds last year but they won't get issued and affect taxes until this year. My Appraisal district valuation did increase substantially. IIRC I was increased to the statutory maximum.

My tax bill over the past 2 years increase (apples to apples) $2.