housing proposals i think we need to consider as a community

[westau]

Originally Posted by bryantm3

taxes are WAY higher in fulton. it's about 1% of the property value, so if your $50,000 house goes up to $150,000, you've got a $1500 bill at the end of the year that many people have trouble paying. i don't think people are getting my idea of a tax cap. i'm not saying that they never pay taxes again. once again, here's how it would work if the law was in place 20 years ago.

say someone bought their house in grant park for $50,000 in 1990. the most the house was ever worth from 1990-2000 was $125,000, in 1998, and they paid $1250 in taxes. $125,000 in TODAY'S dollars is $1700. that means that if this law had been in place, they would still pay taxes on their house and pay $1700 this year, even though their house is now worth $400,000.


if they sold the property to an unrelated individual, the property tax would immediately go up to $4000 and would no longer be subject to the cap.


are you really that blissfully unaware of everything that has happened in the past 6 years?

We did give loans to companies with TARP(which I wasn't a fan of) but they had to repay those at least mostly.

[GeorgiaLakeSearch]

If you don't like your property tax... MOVE.

[rcsteiner]

Originally Posted by GeorgiaLakeSearch

If you don't like your property tax... MOVE.

Difficult to do if you are underwater. Otherwise, I agree that moving is a good option for such people.

[arjay57]

Originally Posted by GeorgiaLakeSearch

If you don't like your property tax... MOVE.

Or you can stay and work to get it lowered.