If it's wrong to tax owners out of their homes, why is it ok to tax renters out of their homes? (premium, how much)
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Many states have property tax relief programs which mitigate the burden faced by homeowners, especially those who are (depending on state) elderly, disabled, or veterans.
These programs rarely are available to renters or to rental property.
This can't be about fairness, since renters generally have much lower income than homeowners, and negligible net worth, so what's the rationale? Is it just a crass political payoff to high-turnout voters?
You've started at least a dozen threads on this topic and still not found the answers you like. First... the elderly, veterans and disabled should probably get a tax relief.
Second... I only get a small deduction on my homestead property and not any rent houses that I own. Those house are an investment and may sit empty several months a year and I pay a premium in taxes on those homes.
Third... And I know what you'll say but save your money and buy a house. Yes we know you flip burgers so move to Muleshoe TX to flip burgers and buy a $15k dollar house.
Forth.... And I know what you'll say but take a few night courses and get a better job. Many of us have done that in our middle to later years.
Fifth .... Keep renting, go section 8 or pitch a tent.
How much Income tax do you pay in a year? Although I get a small deduction for a home, I'll bet I pay more income tax.
A renter does not own the home... Most programs do not apply to rental property because business owners are evil capitalists that must pay higher taxes.
There are programs available to senior renters though.
You've started at least a dozen threads on this topic and still not found the answers you like. First... the elderly, veterans and disabled should probably get a tax relief.
Second... I only get a small deduction on my homestead property and not any rent houses that I own. Those house are an investment and may sent empty several months a year and I pay a premium in taxes on those homes.
Third... And I know what you'll say but save your money and buy a house. Yes we know you flip burgers so move to Muleshoe TX to flip burgers and buy a $15k dollar house.
Forth.... And I know what you'll say but take a few night courses and get a better job. Many of us have done that in our middle to later years.
Fifth .... Keep renting, go section 8 or pitch a tent.
How much Income tax do you pay in a year? Although I get a small deduction for a home, I'll bet I pay more income tax.
A renter does not own the home... Most programs do not apply to rental property because business owners are evil capitalists that must pay higher taxes.
There are programs available to senior renters though.
If it's about making evil landlords pay higher taxes, why not rebate those higher taxes directly to renters?
e.g. the nonhomestead tax in Michigan is a discrete tax which is easy for all to see and quantify, and thus could easily be rebated to renters.
Homeowners vote, about 20 points higher for one.
Seniors also vote and are more likely to be homeowners than under 30 group.
It really is not hard to figure.
then how come conservatives complain that renters/low-income people don't pay enough federal income tax but they never mention that renters/low-income people pay upp the wazoo when it comes to property taxes - and that in many cases it's homeowners who aren't paying their fair share?
If it's about making evil landlords pay higher taxes, why not rebate those higher taxes directly to renters?
e.g. the nonhomestead tax in Michigan is a discrete tax which is easy for all to see and quantify, and thus could easily be rebated to renters.
this is a catch22 situation. the states need revenue, so they raise property taxes, which means you pay a higher rent. but now you want the state to rebate the excess property tax to you, even though you technically dont pay it, but that takes revenue away from the government which means higher taxes again, which translates into higher rents. in other words your idea is foolish.
Many states have property tax relief programs which mitigate the burden faced by homeowners, especially those who are (depending on state) elderly, disabled, or veterans.
These programs rarely are available to renters or to rental property.
This can't be about fairness, since renters generally have much lower income than homeowners, and negligible net worth, so what's the rationale? Is it just a crass political payoff to high-turnout voters?
It's not available because renters don't pay the tax. Do you pay tax, as a renter? I don't mean your landlord does, then you rationalize by saying that because you pay rent to the landlord, you are paying the tax. Do you pay property tax?
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