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Local governments set tax rates. Homeowners don't pay the same tax that rental properties pay typically there are exemptions only available to homeowners.
In most counties all property is taxed at the same rate. They don't care if you live in or rent it, the owner pays the tax.
Or did you mean the federal income tax deduction for home owners? Yes, the federal government encourages home ownership with a tax deduction for those who purchase homes.
In most counties all property is taxed at the same rate. They don't care if you live in or rent it, the owner pays the tax.
Or did you mean the federal income tax deduction for home owners? Yes, the federal government encourages home ownership with a tax deduction for those who purchase homes.
??? In half the states. rental property (esp apartments) are taxed at higher levels than owner-occupied homes, it's usually called a omestead deduction. In Michigan, the school property tax rate on rental property is four times the rate on owner-occupied homes, thanks to a "nonhomestead tax".
Back in the 60's my parents were college graduates and they couldn't afford to a own a home, even a very small one, until they were in their 30's with two kids. My dh and I were 35 when we bought our first small house and we have advanced degrees. We struggled in our 20's worked hard, lived in group houses, and finally were able to get decent jobs and begin to save money.
Everyone struggles and works hard in their 20's. Why do new college graduates expect something else?
I think the issue is we are seeing lies come to fruition rather than "dealing with tough times." My generation the "dreaded" milliennials were told goto college (as well as gen X and now gen Z), "it helps you have a better life." Many of us post 2008 graduates have guess what, not seen the benefit at all. 50% of recent college graduate can find work, even if it is underemployment. We have been lied to and mortgaged our futures on an education "we needed" but yet we can't do anything with them. Re-read SteelCityRising's post. She is stating the truth. The fact is while it may have been hard for 20-somethings, it is unbearable to 20-something now. Crushing debt, low paying jobs if you can find it and worse off, people who just don't understand saying "Oh we all had tough times, put on your big boy/girl pants."
In most counties all property is taxed at the same rate. They don't care if you live in or rent it, the owner pays the tax.
Or did you mean the federal income tax deduction for home owners? Yes, the federal government encourages home ownership with a tax deduction for those who purchase homes.
I'm talking about exemptions. The tax rate is the same, but homeowners, seniors, disabled vets, etc receive exemptions from property tax. Usually what happens is the state excludes a portion of the home value from taxation. Rental/commercial properties aren't eligible for the exemptions.
I think the issue is we are seeing lies come to fruition rather than "dealing with tough times." My generation the "dreaded" milliennials were told goto college (as well as gen X and now gen Z), "it helps you have a better life." Many of us post 2008 graduates have guess what, not seen the benefit at all. 50% of recent college graduate can find work, even if it is underemployment. We have been lied to and mortgaged our futures on an education "we needed" but yet we can't do anything with them. Re-read SteelCityRising's post. She is stating the truth. The fact is while it may have been hard for 20-somethings, it is unbearable to 20-something now. Crushing debt, low paying jobs if you can find it and worse off, people who just don't understand saying "Oh we all had tough times, put on your big boy/girl pants."
No way my kids are going to rack up student loans. It is quite possible to work through College and do it without putting yourself or your Parents into the poor house.
going to school is financially out of reach, so i think i don't have any other options for working.
If you were healthy and child free, (and didn't have other financial responsibilities) you could earn a degree by attending school part time in some states, paid your self while working full time.
going to school is financially out of reach, so i think i don't have any other options for working.
What is financially out of reach? There are several meanings to what is financially out of reach. Is it because you don't have the income coming in, do not wish to take out loans, ect.?
Quote:
Originally Posted by 1AngryTaxPayer
No way my kids are going to rack up student loans. It is quite possible to work through College and do it without putting yourself or your Parents into the poor house.
I don't blame that logic, the issue is not everyone had the opportunity to take other options. I applaud you for wanting that.
Quote:
Originally Posted by TheHurricaneKid
If you were healthy and child free, (and didn't have other financial responsibilities) you could earn a degree by attending school part time in some states, paid your self while working full time.
But you can't do that can ya?
Associates generally work that way. Universities, not always.
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