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Comment on ‘My Property Tax Went From $15K to a Life-Altering $91K a Year’

Hmm. So if you buy a house in your 20s, by the time you retire, you would have bought the equivalent of 2.5 houses. One for you, one from the government for the privilege of living in the one you bought, and half a house worth of interest to the bank.

That’s an insane amount of money.

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surewhynotlem@lemmy.world ⁨3⁩ ⁨weeks⁩ ago
Yes. Living in a safe and orderly society has a subscription fee.

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- laserm@lemmy.world ⁨3⁩ ⁨weeks⁩ ago
  I mean, if the US government wasn’t so stingy about, y know, actually spending on it’s people instead of the military, tax cuts for billionaires and buerocracy, it would be fine imo. Here, in CZ, I’m mostly fine with the taxes since we’re a pretty safe country with decent healthcare. Despite the country still having a huge corruption problem and housing market in flames, it still somehow has higher living Ng standard than the US.
  
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  - surewhynotlem@lemmy.world ⁨3⁩ ⁨weeks⁩ ago
    100% we should complain about how our money is used, and how much is paid by whom. But that’s a different complaint.
    
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  - potpotato@lemmy.world ⁨3⁩ ⁨weeks⁩ ago
    Your property taxes don’t go towards those things though. Maybe a bloated police force, but that’s still usually funded via earned income tax.
    
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    Bartsbigbugbag@lemmy.ml ⁨3⁩ ⁨weeks⁩ ago
    Your federal taxes could go towards local governments if we prioritized it. There’s a choice made, and that choice forces cities to adopt as many taxes as they can get away with in order to fund themselves.
    
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- psud@aussie.zone ⁨3⁩ ⁨weeks⁩ ago
  American cities must be terribly poor to need to tax houses
  
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  - surewhynotlem@lemmy.world ⁨3⁩ ⁨weeks⁩ ago
    We don’t have any rich people to tax.
    
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    Wait, we do? The fuck is going on then‽
    
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Railcar8095@lemm.ee ⁨3⁩ ⁨weeks⁩ ago
Don’t you pay tax also for the purchase itself? Might be anothe 10%

And the yearly tax, is it based on purchase cost or current value? The later would be harsh seeing how they increase.

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- Horsey@lemmy.world ⁨3⁩ ⁨weeks⁩ ago
  There’s no tax on buying property, however, property taxes are a percentage of your property’s assessed value. In my locality, the assessed value has a lot of deductions whereby my 400K house is only taxable as 32K in value, so I pay 3K/year in taxes.
  
  I can’t speak for Florida, but if it’s like Arizona, their property is worth a lot more than 4M if their total tax burden is 90K/year.
  
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- Ilovethebomb@lemm.ee ⁨3⁩ ⁨weeks⁩ ago
  Current value, unless you have some exemption. Which is what stung these people.
  
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