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My local government informed me that they assessed the value of my house increased by 61%.
My property taxes are increasing 61%.
This is a tax on unrealized gains.
My income has not increased. I have realized any gain in the value of my house.
As long as every american pays property taxes, nobody owns their home. You are renting it from the government.
I guess politics does matter after all
Property rights will be under an all out assault this fourth turning..
Sorry to hear that, same happened to my area in ~2022, probably likely to happen again soon. Same deal. It's shit, but my friends/family were able to fight it. Basically they were able to bring their own, more realistic, appraisal into court and show the value was significantly lower than was estimated.
It is a tax on unrealized gainsβ¦β¦.
If someone does not have the money, they will force you to sell it.
Similar thing happened to my property a year ago. We challenged the assessment (which was valued higher than real estate sites - realtor.com, zillow - which notoriously inflate estimated home values!) with the county and got it more fairly priced. I feel it is still high, but it is more realistic.
Push back!
Fucking scam!!!
Every area is a little different, but likely most of that is going to public schools. So, if you opt out of state-sponsored schools, not only are you getting no value from the tribute to begin with, but it is just propping up a failed state propaganda machine for the community.
Itβs all bullshit.
It's the same in my area. Chris Story has drafted a bill that would lock in your taxable value at your purchase price. I don't know if it will go anywhere, but it's nice to see someone pushing solutions.
I am sure he would be willing to share the current version, if you want to pursue this in your area. Here is a link to his blog.
This is the way.
*whispers
Do you really own it???
Whilst it does seem unfair, land taxes are the fairest form of tax. They tax the increased value accrued to private land based on improvements in the community in general.
It's just that with the plethora of other taxes we pay it seems like an additional unfair burden.
Interesting take. Will consider & discuss at meetup tonightβif I can slip in a few words edgewise between current popular topics such as βmuh MSTY gainzβ
Land tax and sales tax are the only two fair ways to tax.
To be fair, the only reason his property got reevaluated +61% is because money printer go brrr and asset prices go up.
What about population increase to the area? More people wanting to live there increases the demand for land. Supply is fixed.
I love it, they print the money, devalue the currency so the value of your home is perceived to go up and you may pay extra for it
Please go work harder to the fiat mine to pay us what we ask you.
This is max tryant retardation. People need to just not comply. Take on the local Sheriff of Nottingham when they come to collect or seize your property.
Any forced taxation is just plain stupid.
If people want to use a government product or service, they can pay for it of their own free will. Forcing them to pay for a service they don't want and didn't ask for is both tyrannical and stupid.
What government is this? I sworn to myself that the day when they bring in unrealized taxes is the day I leave.
You can challenge the local assessment. Go to them and tell them everything wrong about your house and how much it would cost to fix it.
It's an aggressive strategy, but if you HELOC out the equity and invest it you'll outrun you interest and property taxes. The Government MUST hold rates down and run inflation hot to make it out alive.
Sounds like a scam
