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Old 10-22-2010, 12:50 PM
 
Location: El Paso, TX
3,365 posts, read 4,086,037 times
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Quote:
Originally Posted by Tightwad View Post
As if we don't have enough to worry about !

"So millions of American families, including many that have completely paid off their homes, now find themselves in danger of being thrown out on to the street over an unpaid property tax bill."

The Big Wall Street Banks Have Found A New Way To Strangle The American People: Predatory Property Tax Collection

The New Tax Man: Big Banks and Hedge Funds | The Huffington Post Investigative Fund (http://huffpostfund.org/stories/2010/10/new-tax-man-big-banks-and-hedge-funds - broken link)
From my standpoint I would not worry about this problem if I pay my propert taxes.

We complain about the government and corporations and banks, etc. However, how about US being reponsible in paying our taxes? When I pay any of my debts I have nothing to worry about, take care.
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Old 10-22-2010, 01:27 PM
 
8,265 posts, read 11,216,864 times
Reputation: 4788
Quote:
Originally Posted by newenglandgirl View Post
They should NOT be involved in municipal (tax) matters.
If the banks aren't involved then the city would be involved in selling houses, I don't want that either.
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Old 10-22-2010, 01:43 PM
 
59,320 posts, read 46,365,380 times
Reputation: 36793
Quote:
Originally Posted by newenglandgirl View Post
Yes.

Banks do not do ANYTHING without a what's-in-it-for-them.

They should NOT be involved in municipal (tax) matters. They will be selling the tax bills like the mortgages got sold and pretty soon no one will be able to trace the entity that is owed.

Things are getting out of control.
1) Banks are no different than any other business or most people for that matter. I would wonder what success rate i would get approaching random strangers and asking them to wash my car for free.

2) Can you explain to me how banks are selling something (tax bill) that they do not own? I am going to claim this is some sort of myth and you can always just pay your own property taxes directly which is what I do.

I fail to see how it's the banks fault if you don't pay your taxes.
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Old 10-22-2010, 01:44 PM
 
59,320 posts, read 46,365,380 times
Reputation: 36793
Quote:
Originally Posted by elamigo View Post
From my standpoint I would not worry about this problem if I pay my propert taxes.

We complain about the government and corporations and banks, etc. However, how about US being reponsible in paying our taxes? When I pay any of my debts I have nothing to worry about, take care.
Way too reasonable.

Didn't you know this is the blame banks for everything thread? My bank turned me into a newt! Well, I got better.....
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Old 10-22-2010, 02:42 PM
 
Location: Near a river
16,042 posts, read 20,087,264 times
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Quote:
Originally Posted by slackjaw View Post
If the banks aren't involved then the city would be involved in selling houses, I don't want that either.
Municipalities are not lending or investment institutions.
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Old 10-22-2010, 02:49 PM
 
Location: Near a river
16,042 posts, read 20,087,264 times
Reputation: 15724
Quote:
Originally Posted by Mathguy View Post
1) Banks are no different than any other business or most people for that matter. I would wonder what success rate i would get approaching random strangers and asking them to wash my car for free.

2) Can you explain to me how banks are selling something (tax bill) that they do not own? I am going to claim this is some sort of myth and you can always just pay your own property taxes directly which is what I do.

I fail to see how it's the banks fault if you don't pay your taxes.
If it's a myth, I would be very happy to have that verified, if you can. I have not researched the bank thing of buying up real estate tax bills, but according to the article they are.

Banks are lending and investment institutions (for-profit), municipalities (supposedly nonprofit) are not.

Banks would not be doing this new thing if there were no big profit in it for them, right? So what's to prevent them from selling these just like mortgages get sold?

No one says it's the bank's fault if you don't pay your taxes. Where did you get that?

The banks are being predators waiting to pounce and make a profit. What sleeze. People owe their taxes directly to their municipalities. Those local municipalities often participate in some kind of tax relief for low income elders (by state, through special programs). What (possibly national/international) bank is going to honor that kind of thing?
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Old 10-22-2010, 02:51 PM
 
Location: Sierra Vista, AZ
16,546 posts, read 22,023,896 times
Reputation: 8766
Every year, when the tax bill cometh, my wife and I journey to the county seat and pay it.
We make it a ceremony within a week of the bill arriving
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Old 10-22-2010, 03:15 PM
 
3,398 posts, read 4,607,300 times
Reputation: 2413
I think property taxes are a way for the government to seize peoples real estate assets. I think if they have to exist at all it should be like a sales tax of x amount and then you are done. Think about it. The government has the power to raise the taxes as high as they want. Because I don't trust government much I see it as a potential threat. It isn't fair to be taxed for something for as long as you own it even if you pay it off. Without property taxes the government still takes plenty of our money. They just spend it unwisely.
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Old 10-22-2010, 03:28 PM
 
59,320 posts, read 46,365,380 times
Reputation: 36793
Quote:
Originally Posted by newenglandgirl View Post
If it's a myth, I would be very happy to have that verified, if you can. I have not researched the bank thing of buying up real estate tax bills, but according to the article they are.

Banks are lending and investment institutions (for-profit), municipalities (supposedly nonprofit) are not.

Banks would not be doing this new thing if there were no big profit in it for them, right? So what's to prevent them from selling these just like mortgages get sold?

No one says it's the bank's fault if you don't pay your taxes. Where did you get that?

The banks are being predators waiting to pounce and make a profit. What sleeze. People owe their taxes directly to their municipalities. Those local municipalities often participate in some kind of tax relief for low income elders (by state, through special programs). What (possibly national/international) bank is going to honor that kind of thing?
Ah, I found a more trustworthy source. Basically, the municipalities are having a hard time collecting UNPAID PROPERTY TAXES and so are outsourcing the collections.

So yeah a lot of people ARE blaming the banks when the core issue is that people aren't paying their property taxes and then the municipalities are just turning them over to collections.

How is this anything new? Unpaid debts turned over to collection agencies.
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Old 10-22-2010, 03:32 PM
 
59,320 posts, read 46,365,380 times
Reputation: 36793
Quote:
Originally Posted by Nocontengencies View Post
I think property taxes are a way for the government to seize peoples real estate assets. I think if they have to exist at all it should be like a sales tax of x amount and then you are done. Think about it. The government has the power to raise the taxes as high as they want. Because I don't trust government much I see it as a potential threat. It isn't fair to be taxed for something for as long as you own it even if you pay it off. Without property taxes the government still takes plenty of our money. They just spend it unwisely.
I hear what you are saying.

I would strongly urge you to consider that if you did pay a lump sum up front...essentially the present value of all future government services for the property into the future....that you are trusting them not to squander that money and then fail to provide said services in the future.

I'd rather give my money to a crack addict for safe keeping than to a politician.
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