My property taxes shot up almost 19% from last year!!

[TheMoreYouKnow]

Originally Posted by Kthnry

The SALT cap was intended to punish blue states.

That's BS, those states are 100% responsible for imposing the state taxes in the first place, there's no reason why other states should be punished because a few blue states decided to create more social programs than they can afford to pay for.

Texas was collateral damage because it's the only red state with a significant number of residents whose tax burden exceeds 10K. I'm surprised more Texans didn't complain when it passed.

https://itep.org/salt-deduction-cap-...-not-repealed/

[Kthnry]

Originally Posted by TheMoreYouKnow

That's BS, those states are 100% responsible for imposing the state taxes in the first place, there's no reason why other states should be punished because a few blue states decided to create more social programs than they can afford to pay for.

Are you saying that Texans should be exempt from the SALT cap because we're willing to tolerate bad schools and crappy social services?

Note that "SALT" refers to state and local taxes. Texas doesn't have a state income tax, but it does have substantial local (property) taxes. As property taxes increase above 10K, more and more Texans will be affected.

[Hopeful for Life]

Originally Posted by TheMoreYouKnow

That's BS, those states are 100% responsible for imposing the state taxes in the first place, there's no reason why other states should be punished because a few blue states decided to create more social programs than they can afford to pay for.

No argument there. I lived the California nightmare. In California, the limits to qualify for help are higher than the %age of Fed Poverty Level that the other states follow (except for Hawaii & Alaska). It is time for those states to adhere to the FPL and stop coddling the illegals/refugees/poor and pay more attention to the starving middle class.

[Texascrude]

Originally Posted by TheMoreYouKnow

That's BS, those states are 100% responsible for imposing the state taxes in the first place, there's no reason why other states should be punished because a few blue states decided to create more social programs than they can afford to pay for.

I'm probably alone in this, but I don't think ANY local tax should be deductible at the federal level. As far as I'm concerned, the federal government shouldn't be subsidizing State choices to tax or not to tax....someone who lives in a low tax state shouldn't be paying DC more than someone to live in a high tax state. If state taxes are too high you should take it up with your local representatives, not ask the federal government to give you a rebate.

With that said, I gladly take and accept all deductions that I'm eligible for even if I don't agree with them on principle!

[Texascrude]

One last Pro tip for the OP. When you contest and show them how much you paid for the house, bring a separate document listing all the "personal property" that was included with the home purchase. Blinds / shutters / appliances will typically be the biggest ones. If it came with a play structure in the back, shelves in the garage, light bulbs, above ground hot tub, etc, you should be able to cross those off as well. While those were likely included in your purchase price, they should NOT be included in the taxable value of your home. Should be able to knock about $10k off the appraised value by doing this.

[Hopeful for Life]

Originally Posted by Texascrude

I'm probably alone in this, but I don't think ANY local tax should be deductible at the federal level. As far as I'm concerned, the federal government shouldn't be subsidizing State choices to tax or not to tax....someone who lives in a low tax state shouldn't be paying DC more than someone to live in a high tax state. If state taxes are too high you should take it up with your local representatives, not ask the federal government to give you a rebate.

With that said, I gladly take and accept all deductions that I'm eligible for even if I don't agree with them on principle!

How do you feel about the Earned Income Tax Credit and credits for dependents? In my opinion, both are “carrots” to encourage ppl to breed and to stay put paying a mortgage in this country and pay taxes all of your working life to the Government.

[TheMoreYouKnow]

Originally Posted by Texascrude

I'm probably alone in this, but I don't think ANY local tax should be deductible at the federal level. As far as I'm concerned, the federal government shouldn't be subsidizing State choices to tax or not to tax....someone who lives in a low tax state shouldn't be paying DC more than someone to live in a high tax state. If state taxes are too high you should take it up with your local representatives, not ask the federal government to give you a rebate.

With that said, I gladly take and accept all deductions that I'm eligible for even if I don't agree with them on principle!

You aren't alone at all, I agree with you 100%. No state taxes should be deductible on your federal taxes, if you don't like your high tax state you can vote with your feet.

[Texascrude]

Originally Posted by Hopelesscause

How do you feel about the Earned Income Tax Credit and credits for dependents? In my opinion, both are “carrots” to encourage ppl to breed and to stay put paying a mortgage in this country and pay taxes all of your working life to the Government.

I mean, I personally like receiving tax credits if that's what you mean, but I don't think the government should use them as an incentive to breed. If receiving a $2000 tax credit is what pushes you over the edge to get a kid then you probably shouldn't have a child in the first place.

I'm also less concerned about people leaving the country than you may be. There's a near endless list of people that would like to come into this country that if some people want to leave I'm okay with that, we just need to adjust the immigration and visa policy (as well as SS and medicare) to account for that.... though I suppose that's much easier said than done. With that said, i don't pretend to be an expert in immigration / emigration, so my opinion may change if I sat down to do more reading and research on the topic.

[LocalPlanner]

Originally Posted by Texascrude

I mean, I personally like receiving tax credits if that's what you mean, but I don't think the government should use them as an incentive to breed. If receiving a $2000 tax credit is what pushes you over the edge to get a kid then you probably shouldn't have a child in the first place.

I'm also less concerned about people leaving the country than you may be. There's a near endless list of people that would like to come into this country that if some people want to leave I'm okay with that, we just need to adjust the immigration and visa policy (as well as SS and medicare) to account for that.... though I suppose that's much easier said than done. With that said, i don't pretend to be an expert in immigration / emigration, so my opinion may change if I sat down to do more reading and research on the topic.

Well, whether there should be an income tax at all is a debate worth having. But, if we have to have one, and we have to have programs designed to aid lower income people (also a worthwhile debate), the EITC is a relatively well-designed program in my opinion, because (a) it's not directly redistributive and (b) it doesn't discourage work, unlike traditional "welfare" programs.