Property Tax

[Allen]

[QUOTE=Vern Humphrey;657734][QUOTE=Allen;657151]I agree that taxes should be paid in the form of sales tax. That way everyone pays.

Sales taxes are regressive -- the poor pay more, percentage-wise than the rich.

Might be one of many incentives for the poor to become rich or richer as in bettering themselves. Some of the poor want to be poor since so much is done for them.

[Vern Humphrey]

[QUOTE=Allen;657736][QUOTE=Vern Humphrey;657734]

I agree that taxes should be paid in the form of sales tax. That way everyone pays.



Might be one of many incentives for the poor to become rich or richer as in bettering themselves. Some of the poor want to be poor since so much is done for them.

What is done for the poor is being done to buy their votes -- and to provide jobs for poverty bureaucrats.

[Mark in Ottawa]

I just got an interesting statement from our county assessor. 2024 my houses FCV (full cash value) is right on what I consider is accurate. $430,000. Then there's the estimate for 2025. The FCV drops $58,000. I tried to go on line but that's too tough for me to figure out. If you call the ph. no., well, I stayed on the phone for fifteen minutes and gave up.
I'm not overly concerned about any of it.
Oh and that's not what the tax is based on. It went up 5%.

Depending on where you are, municpal taxes are not based on fair market value (or full cash value). They are based on "assessed" value where the assessed value is the fair market value in a particular year and that year is used for the whole municiplity. Assessed value does not change as market value changes but is held steady for many years. This allows the system to rate the value of your house to other similar houses without having to worry about the volatility of the market. Things that do cause the assessed value to change are changes to the house itself (say adding a swimming pool or doing a renovation or building an addition)

[RED]

Years ago my dad went to an out of state gun show. On the way down he got a speeding ticket in a small town in the other state. On the way back he was careful to keep his speed just below the posted speed limit in the same town, but got another ticket for speeding. It's all about the revenue.

EXACTLY!

[RED]

[QUOTE=Vern Humphrey;657734][QUOTE=Allen;657151]I agree that taxes should be paid in the form of sales tax. That way everyone pays.

Sales taxes are regressive -- the poor pay more, percentage-wise than the rich.

Because the poor buy more, a higher percentage of their income. I have a very small income, but I also own property and my property taxes plus sales taxes combined are almost 66% of that income. How many poor people pay that much of their income.

[Former Cav]

For the 1st time in my life I get a break on my taxes on my home in TX. Because I am a 100% disabled vet and over 65 I pay 0 for our home. I get FREE license plates on one vehicle also. Otherwise, our taxes on our home would be about 2.8% of the value of the house. 550K so it would be about 15.5K then there is also a MUD tax. Municipal Utitility District to pay for roads and sewers (the developer skates on that) so that is about $1300 per year for an indefinite amount of time. Sales tax is about 9% roughly. No income tax but we are retired.
When we lived in MN, from birthdate in 1946 to 2005, the taxes on our home went up $500 a year on top of the $4800 we were paying on a like valued home (about 550K). This was a BOND for schools The school portion was about 3600 out of the 4800. The bond was for 10 years! At the end of THREE years, they came back with their hands out again as they spent all 10 years worth (in advance, righto!!!). Of course, all the people with kids voted for it. So our taxes went up about another $500 a year. I've had ONE kid in my lifetime and I've paid for his schooling for about 74 years (well 74 minus the first 18 of my life, call it 56 years). He still doesn't know $hit too !! Good schools or skrewells as Rush used to call them.ds MN also had a sales tax between 8-9 percent, and income tax, and about a $600 dollar license plate tax on a new 2004 expedition in 2004. All the years that I worked, I just figured that my take home pay was about 65% of the "before tax" amount. Sales tax and other "usage taxes" on top of that.
Count your blessings.
In Sweden in 03, wifes cousins were paying a Federal 35% VAT (value added tax), a Provincial (like state) 25% VAT and city 14-18% VAT. So that is 74 to 78 percent tax. A bottle of NEAR beer over there was like 3 Euros (in 03 it was 1.33 dollar to 1 Euro). That was for a 12 oz bottle of beer (a little less, 350ML or something).
A good beer, like an Orval at about 7-8% alcohol was like 10 Euro's. for an 11 OZ bottle.!!