Property taxes

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What y'all are missing is that without exorbitant costs there wouldn't be any of that super expensive equipment. Equipment that cannot be used with YOUR insurance; you need the Double Platinum plan for that.
Or that esoteric research that costs billions but the result is only available to you if you can cough up the $3,000 a month price tag for the prescription.
Oh, yeah, all that stuff gotta be paid for; here's yer bill —
 
Bottom Feeder said:
What y'all are missing is that without exorbitant costs there wouldn't be any of that super expensive equipment.
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Bottom Feeder said:
Or that esoteric research that costs billions
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That stuff is only that expensive due to our inflated money.

Get rid of that, and that problem is gone too.
......but too many want something for nothing, or at least the illusion of it.
 
following the thread disconnect…

Mark Cuban Unloads on Healthcare
barchart

Healthcare is one of the few industries where a life-saving procedure can carry a five-figure price tag while the doctor performing it walks away with a fraction of the bill. That disconnect is precisely what billionaire entrepreneur and Cost Plus Drugs co-founder Mark Cuban wants to change.
 
searcher said:
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He's right.

Property taxes shouldn't even be allowed due to it being a tax on unrealized gains.



However if we must have them, the problem of appraisal districts over valuing people's homes in order to maximize taxes collected could be mitigated by turning the appraisal into an offer to buy.

In other words, if they over value your home to a level you could never get if you tried to sell, you could sell to the county for the amount they are declaring it to be worth.

Edited to add: that would add a powerful incentive for them to get the appraisals correct.
 
In Florida cities juggle the.millage rate and the value of your.property to meet their budgets.

I have lived in a county with the highest millage rate in the state for 20+ years. The property values have finally caught up with SE Florida and now it is time to move.

I am planning on building smaller home with twin solar powered mini spilt ac units and a well. If I keep it under $250k I should have minimal property taxes if any and a monthly nut < $500.
 
Up the middle of the state. Coastal areas require too much maintenance. Look among Okeechobee, Lake Placid, Ocala and similar areas.
 
Joe King said:
He's right.

Property taxes shouldn't even be allowed due to it being a tax on unrealized gains.



However if we must have them, the problem of appraisal districts over valuing people's homes in order to maximize taxes collected could be mitigated by turning the appraisal into an offer to buy.

In other words, if they over value your home to a level you could never get if you tried to sell, you could sell to the county for the amount they are declaring it to be worth.

Edited to add: that would add a powerful incentive for them to get the appraisals correct.
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Now if the municipality has to cough up these phony drummed up numbers to buy who do you really think is gonna get stuck with the bill? They got ya coming and going. The fun begins when RE crashes and you try to appeal your property tax bill.
 
This was a pretty good yet complicated look into the scams that Bankers have used to work with these governments. They basically used lending programs and bogus payback schedules that Never paid any Principal off.

 
nickndfl said:
Up the middle of the state. Coastal areas require too much maintenance. Look among Okeechobee, Lake Placid, Ocala and similar areas.
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Far enough inland that hurricanes blow themselves out...
 
searcher said:
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I guess just freezing the property-tax appraisal at what it was the home was...a compromise...escapes them. It's all or nothing...runaway tax collectors, or else just throw the property-tax system into the dumpster.

Yeah, I'd love it if there were no property taxes, but there's two problems. FUNDING, various county functions; and that of corporate purchase of large quantities of land/homes. When Private Equity has cash with no home, and they can dump it into real estate...and NOT pay a cost...that's exactly what they will do. Pricing out would-be homeowners.

Not unlike ZIRP. Sounds grate, until you consider the huge quantity of malinvestment, including stawk buybacks.
 
Lancers32 said:
Now if the municipality has to cough up these phony drummed up numbers to buy who do you really think is gonna get stuck with the bill? They got ya coming and going. The fun begins when RE crashes and you try to appeal your property tax bill.
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My point is, if they give honest assessments of what a property is actually worth, they won't have to buy any of them.


All it will take is for it to happen a couple of times and they will quickly adjust how they arrive at the appraisal amounts that they use to charge us taxes.
 
Casey Jones said:
just throw the property-tax system into the dumpster.
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That's what needs to happen.




Casey Jones said:
Yeah, I'd love it if there were no property taxes, but there's two problems. FUNDING
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There's a stupidly easy fix for that.

It's called a head tax.

As in, anyone with a head and who lives within said jurisdiction, gets a tax bill for that head.

Ie: just directly tax people living within the jurisdiction.
.....and do it equally among all the people.

As in everyone pays the same dollar amount.


It's the only way to keep it fair, as well as the only way to keep gov as small as possible.

The only reason we have a big bloated gov, is due to its virtually unlimited ability to fund itself.

If the money is available, the gov will just find some bull shit to spend it on.
....but have it so gov funding is restrained and gov will only be able to spend on the most important of things that most people are ok with gov spending money on.
 
Joe King said:
That's what needs to happen.






There's a stupidly easy fix for that.

It's called a head tax.

As in, anyone with a head and who lives within said jurisdiction, gets a tax bill for that head.

Ie: just directly tax people living within the jurisdiction.
.....and do it equally among all the people.

As in everyone pays the same dollar amount.


It's the only way to keep it fair, as well as the only way to keep gov as small as possible.

The only reason we have a big bloated gov, is due to its virtually unlimited ability to fund itself.

If the money is available, the gov will just find some bull shit to spend it on.
....but have it so gov funding is restrained and gov will only be able to spend on the most important of things that most people are ok with gov spending money on.
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And how would you prevent Black Rock or Gates Foundation (or Microsoft Investments, whatever Bill and Melinda choose to call it) from buying up whole neighborhoods, to "Diversify" and rent out (on government stipends) to the 40 million invaders here now?

There has to be a COST to owning property, to prevent malinvestment and concentration.
 
Casey Jones said:
I guess just freezing the property-tax appraisal at what it was the home was...a compromise...escapes them. It's all or nothing...runaway tax collectors, or else just throw the property-tax system into the dumpster.

Yeah, I'd love it if there were no property taxes, but there's two problems. FUNDING, various county functions; and that of corporate purchase of large quantities of land/homes. When Private Equity has cash with no home, and they can dump it into real estate...and NOT pay a cost...that's exactly what they will do. Pricing out would-be homeowners.

Not unlike ZIRP. Sounds grate, until you consider the huge quantity of malinvestment, including stawk buybacks.
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I'd say exempt primary residence from property tax.
 
Casey Jones said:
And how would you prevent Black Rock or Gates Foundation (or Microsoft Investments, whatever Bill and Melinda choose to call it) from buying up whole neighborhoods, to "Diversify" and rent out (on government stipends) to the 40 million invaders here now?

There has to be a COST to owning property, to prevent malinvestment and concentration.
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Does property taxes prevent them from wanting to buy them now?

The taxes they pay just get passed along to their tenants via higher rents.
 
Joe King said:
Does property taxes prevent them from wanting to buy them now?

The taxes they pay just get passed along to their tenants via higher rents.
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It limits what they drop on real-estate.

Right now...since their top managers are Insiders and they KNOW a big Stonk-Market rug-pull is coming...they're sitting on cash. Warren Allyoucaneat Buffet has most of his shell-company's capital IN cash right now.

Parking it to where it's protected from inflation, i.e. real-estate, would be better...but for the cost, the tax bill.

Yes, some of that is happening now. You have NO IDEA how MUCH of it would happen if suddenly the tax cost didn't have to be balanced against rent incomes.
 
Casey Jones said:
It limits what they drop on real-estate.

Right now...since their top managers are Insiders and they KNOW a big Stonk-Market rug-pull is coming...they're sitting on cash. Warren Allyoucaneat Buffet has most of his shell-company's capital IN cash right now.

Parking it to where it's protected from inflation, i.e. real-estate, would be better...but for the cost, the tax bill.

Yes, some of that is happening now. You have NO IDEA how MUCH of it would happen if suddenly the tax cost didn't have to be balanced against rent incomes.
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But taxes for them are just a pass-on cost.

Property taxes cost them nothing. Same as with any company.

In fact, IMHO, companies and businesses should not be subject to any taxes, just for that reason alone.

Anyth taxes applied to them only serves to make their products and services that much more expensive.

Taxes are for people.
 
Joe King said:
But taxes for them are just a pass-on cost.

Property taxes cost them nothing. Same as with any company.

In fact, IMHO, companies and businesses should not be subject to any taxes, just for that reason alone.

Anyth taxes applied to them only serves to make their products and services that much more expensive.

Taxes are for people.
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If they have no tenants and do nothing with the land, there's no way to "pass on the costs."

That's what I'm saying: WITH a tax structure, the land has to be PRODUCTIVE. Produce money to pay the costs incurred. NOT so if there's no real-estate taxes. It's just a place to park their cash.
 
Casey Jones said:
If they have no tenants and do nothing with the land, there's no way to "pass on the costs."

That's what I'm saying: WITH a tax structure, the land has to be PRODUCTIVE. Produce money to pay the costs incurred. NOT so if there's no real-estate taxes. It's just a place to park their cash.
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If there aren't enough renters to keep it rented most of the time, they won't buy them.

Investors like that are all about ROI.
.....and lacking that, they won't want to own them.
 
Joe King said:
If there aren't enough renters to keep it rented most of the time, they won't buy them.

Investors like that are all about ROI.
.....and lacking that, they won't want to own them.
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So long as there are costs incurred.

If the land is tax-free, they'll just hoard it. On the reasonable speculation that it will probably keep its value greater than the rate of inflation. No costs, and appreciating value of comparable land: Win.

For Corporate. Not for people just trying to farm or homestead. THEY...LOSE.
 
Joe King said:
My point is, if they give honest assessments of what a property is actually worth, they won't have to buy any of them.


All it will take is for it to happen a couple of times and they will quickly adjust how they arrive at the appraisal amounts that they use to charge us taxes.
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Back in the day the line was well if we don't do this or that and use up the allotted budget we'll get cut next year. Now? It supports outright fraud and bloated worker salaries and staffs.

Your house according to them is what the comps say it's worth. They are not entitled to dig deeper into your pocket because the supposed value has increased.
 
There is a pretty easy way to solve many of these issues. Property taxes should ONLY apply to commercial uses. IE if a corporation with say at least 10 owners buys a property then they will also have to pay property taxes. This does not apply to people who can actually just buy and own property.
 
Lancers32 said:
They want to drive the landlords out and take control of the property. Yes rent controls.
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If the landlords are unable to raise rents, selling to the city for the government's tax appraisal amount would be the smart thing to do.

That let's the idiots who think communism is a good idea, to get a good taste of their own medicine.

As long as a private sector landlord is in the middle of it all, they make for a good scape goat.
 
Joe King said:
If the landlords are unable to raise rents, selling to the city for the government's tax appraisal amount would be the smart thing to do.

That let's the idiots who think communism is a good idea, to get a good taste of their own medicine.

As long as a private sector landlord is in the middle of it all, they make for a good scape goat.
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Doubt the city would pay what any building is worth. Good luck taking the city to court. If it gets that far crooked judges are waiting.
 
Lancers32 said:
Doubt the city would pay what any building is worth. Good luck taking the city to court. If it gets that far crooked judges are waiting.
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They would be Constitutionally required to pay at least fair market value.
.....but none of this matters anyways, as the only ones who could make my proposal law, are the same ones who benefit from it not being that way.
 
Something to consider...

Skip the Roth Conversion — Do This From 62 to 73 Instead​

In this video, you'll learn that a Roth conversion is not always the best way to lower your taxes in retirement. We look at a lesser known strategy using the 0% long term capital gains tax bracket, how it compares to a Roth conversion, and how to decide which strategy could make more sense for you.

CHAPTERS
0:00 A Powerful Alternative to Roth Conversions
1:11 The 0% Capital Gains Tax Bracket
2:11 How Much Income Can You Actually Have?
3:20 How Roth Conversions Affect Capital Gains
4:53 The Hidden Cost of a Roth Conversion
6:31 How the 0% Capital Gains Strategy Works
7:43 The Four Retirement Tax Windows
8:43 The Health Insurance Subsidy Cap
9:48 The Best Tax Window After Age 65
10:38 How Social Security Changes the Strategy
11:26 What Happens When RMDs Begin
12:21 Do You Need to Worry About IRMAA?
13:07 When a Roth Conversion Still Makes Sense
14:41 The 2028 Tax Deadline to Know
 
Joe King said:
They would be Constitutionally required to pay at least fair market value.
.....but none of this matters anyways, as the only ones who could make my proposal law, are the same ones who benefit from it not being that way.
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They valued trump's Fla property at 18 million or something like that in order to get him. Worth over 500 million. Rule of law? Long gone they'll do whatever the hell they want.
 
Lancers32 said:
They valued trump's Fla property at 18 million or something like that in order to get him. Worth over 500 million. Rule of law? Long gone they'll do whatever the hell they want.
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Yes, I know.

I was just sayin' how it should be.
 
Lancers32 said:
They valued trump's Fla property at 18 million or something like that in order to get him. Worth over 500 million. Rule of law? Long gone they'll do whatever the hell they want.
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Apparently one side effect of rent controls is to just take apartments off the market.

Just saw where instead of fighting rent controls, some landlords are simply refusing to rent at all.

Supposedly there are about 50,000 empty apartments in NYC, which only restricts supply even more, and causing even more pressure for higher rents.
 
Philly

Thousands of Philly homeowners are facing property tax increases of 50% or more after this year’s reassessment​

Most Philadelphia homeowners will see slightly higher property tax bills next year after the city conducted a mass reassessment process that resulted in a modest uptick in home values.

But for thousands of residents, many of whom live in North Philadelphia, next year’s tax bills are expected to soar.

Nearly 6,000 homeowners in Philadelphia saw their property assessments this year climb by more than 50% compared with two years ago, the last time the city conducted a mass revaluation, according to an Inquirer analysis of city property assessment data released in June.

More:

https://www.msn.com/en-us/money/rea...r-s-reassessment/ar-AA2aNZRB?ocid=socialshare
 
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