Thanks, I will try that route.
YepMAROON said:
property tax is the worst form of tax out there. You tax someone on the estimated value of their home. Not the amount of income the asset brings in but the value. Can you imagine if every year you have to pay a tax on your stock portfolio or you bank cash balances.
I've come to the point in life where I would welcome a state income tax or sales tax if we ditched the property tax. I can control my income, I can't control the value of my house.
The problem is spending budgets not value. Value is just how the governmental budget gets allocated. The government is going to spend like a drunken sailor if they can, so the best case depends on the answer to the question...what is rising faster real estate values or incomes? Whichever is changing least would be better.Diggity said:
I would argue you have a lot more control over your house value than your income (at least from a strategic standpoint).
Unless you're self-employed and playing games with your income, nobody is intentionally keeping their income low to avoid paying additional income tax. You can choose to live below or above your means.
Sure, the county can/will raise your taxable value but you start at a base point and it can only go up 10% each year, and they are (generally) tied to actual values. People ***** and moan about their assessed value, but owners I know are valued below market currently (I know I am).
I haven't done research, but property tax seems to be the most fair. Everyone who has a roof over their head pays including all of the illegals who skirt income tax by being paid in cash. Sales tax seems to be the next best except for communities on the state border and online shopping out of state.MAROON said:
property tax is the worst form of tax out there. You tax someone on the estimated value of their home. Not the amount of income the asset brings in, but the value. Can you imagine if every year you have to pay a tax on your stock portfolio or you bank cash balances.
I've come to the point in life where I would welcome a state income tax or sales tax if we ditched the property tax. I can control my income and my spending, I can't control the value of my house.
And my salary increases are in no way connected to the increases in my home valuation.
JJxvi said:The problem is spending budgets not value. Value is just how the governmental budget gets allocated. The government is going to spend like a drunken sailor if they can, so the best case depends on the answer to the question...what is rising faster real estate values or incomes? Whichever is changing least would be better.Diggity said:
I would argue you have a lot more control over your house value than your income (at least from a strategic standpoint).
Unless you're self-employed and playing games with your income, nobody is intentionally keeping their income low to avoid paying additional income tax. You can choose to live below or above your means.
Sure, the county can/will raise your taxable value but you start at a base point and it can only go up 10% each year, and they are (generally) tied to actual values. People ***** and moan about their assessed value, but owners I know are valued below market currently (I know I am).
MAROON said:
property tax is the worst form of tax out there. You tax someone on the estimated value of their home. Not the amount of income the asset brings in, but the value. Can you imagine if every year you have to pay a tax on your stock portfolio or you bank cash balances.
I've come to the point in life where I would welcome a state income tax or sales tax if we ditched the property tax. I can control my income and my spending, I can't control the value of my house.
And my salary increases are in no way connected to the increases in my home valuation.
Diggity said:
I would argue you have a lot more control over your house value than your income (at least from a strategic standpoint).
Unless you're self-employed and playing games with your income, nobody is intentionally keeping their income low to avoid paying additional income tax. You can choose to live below or above your means.
Sure, the county can/will raise your taxable value but you start at a base point and it can only go up 10% each year, and they are (generally) tied to actual values. People ***** and moan about their assessed value, but owners I know are valued below market currently (I know I am).
you control the starting point, you fight the taxes, and you hope you won't get nailed for 10% every year. It's worked out fine for me so far...maybe I'm just the lucky one.MAROON said:
you have control over your purchasing budget, but you have zero control over the yearly tax value increases unless you purposely buy in a undesirable neighborhood - which no one would do, unless that is all they could afford.
Hope. You have no control and attempt to justify a lower value. Eventually, your luck will run out.Diggity said:you control the starting point, you fight the taxes, and you hope you won't get nailed for 10% every year. It's worked out fine for me so far...maybe I'm just the lucky one.MAROON said:
you have control over your purchasing budget, but you have zero control over the yearly tax value increases unless you purposely buy in a undesirable neighborhood - which no one would do, unless that is all they could afford.
It's not a perfect system by any means but I would rather have our system than live in NYC.
AgAttorney2010 said:
Yearly 10% increase on homesteads appraisals seems unreasonable. Shouldn't that be closer to expected inflation?. Maybe 2% or 3% ? Definitely not more than 5%
Appraisals should reflect the market. Taxes should be closer to inflation. Counties cannot raise property taxes more than 3.5% per year without voter approval.AgAttorney2010 said:
Yearly 10% increase on homesteads appraisals seems unreasonable. Shouldn't that be closer to expected inflation?. Maybe 2% or 3% ? Definitely not more than 5%