Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The elderly that have owed their homes for decades, that are now retired and on a fixed income.
Michigan has a property tax deferral program for poor homeowners - the taxes are deferred until the homeowner vacates the property e.g. through death or moving, say, to Florida or to a nursing home. So poor homeowners never have to lose their home to taxes. Poor renters get the double whammy of ungatz; not only is there no deferral available, their homes are taxed one-third to one-half higher than equivalent owner-occupied homes. Which means that not only are renters fair game to be taxed out of their homes, they are sitting ducks to be taxed out of their homes harder and faster.
Michigan has a property tax deferral program for poor homeowners - the taxes are deferred until the homeowner vacates the property e.g. through death or moving, say, to Florida or to a nursing home. So poor homeowners never have to lose their home to taxes. Poor renters get the double whammy of ungatz; not only is there no deferral available, their homes are taxed one-third to one-half higher than equivalent owner-occupied homes. Which means that not only are renters fair game to be taxed out of their homes, they are sitting ducks to be taxed out of their homes harder and faster.
Renters have made no investment and own no homes.....they rent.
We do have land where we live....100 acres of mostly woods.....our buildings for the business is not on this land.
Our house is nice.....but, a remodeled old farm house.
Our township has very low taxes......no fire department.
We claim "0" for income.....the figure they use is the bottom line on your 1040.
The entire parcel of land - 100 acres - is all part of your homestead? And that ZERO, What Would Romney Say? I was guessing you're levied there about 30 mills was I close?
The entire parcel of land - 100 acres - is all part of your homestead? And that ZERO, What Would Romney Say? I was guessing you're levied there about 30 mills was I close?
Would a renter have vertical equity on a rental home.....no....they have no investment.
One could argue that an equity issue exists to the extent involuntary renters are subject to higher taxes than voluntary homeowners of greater income. Renters make an (often increasing) every month, with ROI = zero.
One could argue that an equity issue exists to the extent involuntary renters are subject to higher taxes than voluntary homeowners of greater income. Renters make an (often increasing) every month, with ROI = zero.
What is an involuntary renter??
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I was guessing you're levied there about 30 mills was I close?
