Owing your home today is nearly impossible, but even if you did the ever increasing property taxes will bury you
Owing your home today is nearly impossible, but even if you did the ever increasing property taxes will bury you
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I don't know his situation but I think primary residence up to certain value shouldn't be taxed at all. There's a huge difference between an old man living alone in a house he had built for his family 60 years ago and an "investor" who owns entire neighbourhoods. Unfortunately, where I live a property tax on as far as I remember 4th and all above residential properties has been proposed and people who oppose it the most are pensioners who live in the only property they own. Right wing media can just outright lie to people telling them the tax is going to be on every property and people go on vote against their own interests.
Agreed. I'd vote to drop property tax for those over 65 and under a certain income limit.
tying it to income means in a few decades inflation just shrinks the number of people who can actually benefit
If you own one residential property and also live in it, no taxes on that. Multiple properties? That's taxes. Unfortunately, most primary education is funded by property tax, so you'd have to change how that works (and maybe actually pay teachers while your at it). Fortunately, none of this has any chance of ever getting implemented.
Have the income limit adjust to the cpi every year? It's not perfect, but it works