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I agree with this. I think there should also be some sort of reduction in school taxes for those homeowners who don’t use the school system, etc.
That’s not how taxes work. We pay taxes to fund things that we as a society (mostly) decide that we want and need and which are not cost effective to fund privately. Schools, the post office, police, military, etc.
And everyone “uses” the school district. The quality of your schools is the #1 influence on property value. Your home gains or loses value based on how well the district performs, regardless if you have kids that use it.
And everyone “uses” the school district. The quality of your schools is the #1 influence on property value. Your home gains or loses value based on how well the district performs, regardless if you have kids that use it.
This is so true and what I preach every time I discuss real estate and investing. The higher the school's perform, the more valuable your property becomes.
While their isn't a reduction just for not using the school system, the example crv was using would likely be eligible for senior exemptions, enhanced star, etc.
The problem is that the qualifications for the senior tax exemption are a joke.
29K or less in household income for 50% exemptions with phaseouts up to 37K (where you only get 5%).
What household in Nassau (even retired/elderly) is making do on a combined household income of less than 40K?
The problem is that the qualifications for the senior tax exemption are a joke.
29K or less in household income for 50% exemptions with phaseouts up to 37K (where you only get 5%).
What household in Nassau (even retired/elderly) is making do on a combined household income of less than 40K?
True, but that is only one of the exemptions. Enhanced star for example goes up to $86,000
FWIW I wasn't arguing the current process regarding taxes on Seniors was good or bad. I was simply pointing out that the example being used wasn't exactly accurate. Although, it might not be that far off if the young couple used one of the politically connected grievance firms in recent years and the elderly couple did not.
RE: That’s not how taxes work. We pay taxes to fund things that we as a society (mostly) decide that we want and need and which are not cost effective to fund privately. Schools, the post office, police, military, etc.
And everyone “uses” the school district. The quality of your schools is the #1 influence on property value. Your home gains or loses value based on how well the district performs, regardless if you have kids that use it.
True but why do the owners of more valuable homes have to pay more in property tax?
Why is a 200k salary taxed more than a 100k salary?
I don't agree with the salary taxation brackets either. There is a difference between taxing salary and property taxes. The latter involves use of resources and the size of your own property, your fair share. A 1500sf home should pay less taxes than a 3000sf home.
There is no legitimate reason that someone who earns more in salary has to pay for a bigger slice of the pie. The only reason it's done that way is because they CAN get more out of them.
I don't agree with the salary taxation brackets either. There is a difference between taxing salary and property taxes. The latter involves use of resources and the size of your own property, your fair share. A 1500sf home should pay less taxes than a 3000sf home.
There is no legitimate reason that someone who earns more in salary has to pay for a bigger slice of the pie. The only reason it's done that way is because they CAN get more out of them.
Do you know of anywhere in the world it’s not done that way and life is good?
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