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That only applies to "real estate" (held with qualified ownership).
Does not apply to "private property" (absolutely owned by an individual).
Do not believe me - go read the law for yourself.
The "real estate" scam has been going on for generations, thanks to the socialist revolution of 1933.
Law on property taxes varies from place to place. Not sure why you think something that happened in 1933 has anything to do with property taxes, but it doesn't. Property taxes are local, and are imposed to pay for the services provided by local government. No one has found anotehr option to pay for local government, so property taxes aren't going away.
Quote:
Originally Posted by Scooby Snacks
I agree. I'm not sure why people believe they own their homes. I think they believe this just because of terminology. They don't even own their homes after the house is "paid off" because it never is. A thing you have to pay taxes on the rest of your life is not something you own (that includes cars.) The government partially owns it as well. If you buy an item you pay taxes on one time, once you pay that tax, you own it. But if you have to pay taxes on it until you die, you don't really own it; you're actually renting it. Home ownership isn't superior to renting based on the premise that you own something, because you don't. One can argue it's better for other reasons, but that's a matter of opinion.
Enough of the weak thinking statement "you don't own your house/car, the government does". It's baseless and really stupid. You are, of course, free to suggest another means to pay for local government.
Enough of the weak thinking statement "you don't own your house/car, the government does". It's baseless and really stupid. You are, of course, free to suggest another means to pay for local government.
Stupidity is in the eye of the beholder. If my main purpose in owning a house is to work on cars... that is, turning the dwelling into an auto-body shop... but zoning or other regulations forbid this, then assuredly, I will rethink my campaign of buying a house. I'll likely desist from any radical moves, and will just rent.
One major disadvantage of renting, is that the scope of one's activities is limited by the tolerance and acquiescence of one's landlord and neighbors. If, as an owner, the limitations are only nominally greater, then there is merit in reconsidering whether one ought to bother to become an owner.
As for the question about local government, there are at least two alternative options. (1) cut the scope and thus budget of government services, and/or (2) institute more of a fee-for-service model.
Yes you do, assuming the deed is in your name. If it is, you own it (and the property), even if you have a mortgage out on it with a bank or lender. The old adage of the bank owns it is simply not true, and never was.
If you have a mortgage out on your property with a bank, the bank has a lien on it. And yes, they can take it away from you if you default, but it is you who owns it.
Stupidity is in the eye of the beholder. If my main purpose in owning a house is to work on cars... that is, turning the dwelling into an auto-body shop... but zoning or other regulations forbid this, then assuredly, I will rethink my campaign of buying a house. I'll likely desist from any radical moves, and will just rent.
One major disadvantage of renting, is that the scope of one's activities is limited by the tolerance and acquiescence of one's landlord and neighbors. If, as an owner, the limitations are only nominally greater, then there is merit in reconsidering whether one ought to bother to become an owner.
As for the question about local government, there are at least two alternative options. (1) cut the scope and thus budget of government services, and/or (2) institute more of a fee-for-service model.
I have no idea where you live, but here in Houston, 60% of the budget is police and fire, and that's over $1.5 billion. It's more than the property taxes the City collects. The excess of public safety over property tax collections, and the rest of the budget, is funded by sales taxes and a variety of franchise taxes and fees. Water, sewer, and the airports are paid for by user fees. Roads are a combination of general fund and bonds. The rest of the budget isn't that big. So, no, there's not a real alternative to using property taxes, especially since the State Legislature isn't going to allow a city to impose an income tax, and sales taxes are at the maximum right now.
Stupidity is in the eye of the beholder. If my main purpose in owning a house is to work on cars... that is, turning the dwelling into an auto-body shop... but zoning or other regulations forbid this, then assuredly, I will rethink my campaign of buying a house. I'll likely desist from any radical moves, and will just rent.
That’s premise doesn’t make sense. I can buy a vacant mechanic’s shop, and I would similarly be prevented from turning it into my dwelling. On a small enough scale I probably could get away with it, just like many a body man gets away with moonlighting in the garage at his home.
I have no idea where you live, but here in Houston, 60% of the budget is police and fire, and that's over $1.5 billion. It's more than the property taxes the City collects. The excess of public safety over property tax collections, and the rest of the budget, is funded by sales taxes and a variety of franchise taxes and fees. Water, sewer, and the airports are paid for by user fees. Roads are a combination of general fund and bonds. The rest of the budget isn't that big. So, no, there's not a real alternative to using property taxes, especially since the State Legislature isn't going to allow a city to impose an income tax, and sales taxes are at the maximum right now.
Houston Independent School District has an annual budget of just over two billion dollars. That appears to be considerably larger than the public safety segment.
Best way to own your home is to not consider it a lifetime abode. Move after a reasonable amount of time, take your equity out, and buy something else. Use your equity to make a much larger down payment on your next house than you did on the one you are leaving.
I also think there are certain benefits to renting as well. Many people I know as they become elderly can't do all the yard work, etc. they used to be able to do, and hiring everything done gets expensive. It's a sigh of relief to them to rent a nice house or condo and let somebody else fix the roof when it needs done, etc.
Its a shame to read how many home owners here seem to really look down on renters though.
Most of the older type people I'm talking about are much classier than the "landlords" they are renting from. I know that because those landlords are fellow home-owners in my age group. At least 1/2 of them have no class and would be the kind of "renters" you would not want, if they were renters instead of owners. LOL
THere is no better tenant than an older retired person and I have rented to many lovely retired professionals. Who I treat very well and thus have no turnover.
Home ownership does not automatically imbue class onto people who have no class to begin with.
Part of having class is when you are a landlord and treat your renters with respect if they are nice people. Unfortunately I've seen a lot of truly nice renters get treated pretty poorly by their landlords, who are more interested in nickel and dimes than "people".
Last edited by pavedwithgold; 07-28-2021 at 04:35 AM..
Best way to own your home is to not consider it a lifetime abode. Move after a reasonable amount of time, take your equity out, and buy something else. Use your equity to make a much larger down payment on your next house than you did on the one you are leaving.
I also think there are certain benefits to renting as well. Many people I know as they become elderly can't do all the yard work, etc. they used to be able to do, and hiring everything done gets expensive. It's a sigh of relief to them to rent a nice house or condo and let somebody else fix the roof when it needs done, etc.
Its a shame to read how many home owners here seem to really look down on renters though.
Most of the older type people I'm talking about are much classier than the "landlords" they are renting from. I know that because those landlords are fellow home-owners in my age group. At least 1/2 of them have no class and would be the kind of "renters" you would not want, if they were renters instead of owners. LOL
THere is no better tenant than an older retired person and I have rented to many lovely retired professionals. Who I treat very well and thus have no turnover.
Home ownership does not automatically imbue class onto people who have no class to begin with.
Part of having class is when you are a landlord and treat your renters with respect if they are nice people. Unfortunately I've seen a lot of truly nice renters get treated pretty poorly by their landlords, who are more interested in nickel and dimes than "people".
No one goes into being a landlord to make friends. It's a business decision. And if the landlord doesn't operate it as a business, then he'll lose his shirt and get taken advantage of by every sob story that comes along. That doesn't mean that the landlord has to be an a$$hole, but he/she has to be firm and make decisions based on business principles, not based on being a "buddy" to the tenant.
Clearly you've never lived in a small southern town. I've seen it. Tractors and lawn mowers!
Truth!
Some people keep their tractors and lawn mowers cleaner than their houses!
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