Property taxes are so insidious.

Other people print money, causing the nominal value of your house to increase.

Property taxes are assessed on the current value of your home, so as the property value rises, so does your tax bill.

But that extra home value is not liquid and therefore not accessible to pay the increased tax burden.

If the property tax rises too much, some people may need to take on debt or even sell the property to pay it.

This should not stand in any civilized society.

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Yes. I’ve (begrudgingly) come to the position that real estate, even primary residential, is a liability, not an asset.

Check this article. In Colorado, a second home rented out for more than 90 days is considered “commercial property” and subject to 4x tax rates. https://www.dailymail.co.uk/news/article-13293365/Colorado-property-tax-surge-pandemic.html

It really is a scam to own 1 house

Someone might spend a life maintaining an heirloom home only to lose it in retirement unable to afford tax increases.

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