The US is middling as a nation in terms of homeownership rates. As much favoritism as homeowners receive here and the rhapsodies we sing in their support, the US has not succeeded in promoting it. The success for home ownership has been a great wealth transfer from renters and new homeowners to incumbent homeowners.
Yes, I would love to see property taxes replaced by a land value tax. Even better, eliminate the vast majority of state and local taxes and replace it with an LVT.
Of course, state governments like California could stop funding illegal aliens, idiotic “high speed rail” projects, jet setting politicians, etc while allowing off shore oil and natural gas projects to increase revenues. Stop wasting tax dollars and keep property taxes low and affordable.
Prop taxes in CA are already quite low if you bought in early enough - would you look favorably on prop 13 repeal if it resulted in a lower average tax bill for more recent home buyers?
Most homes have a mortgage, and property taxes are part of the mortgage payment, so most homeowners pay their property taxes as part of their mortgage payment and don’t have a balloon payment once or twice a year.
The property tax should be abolished. Also income tax should be cut back, we don't need more Government. we don't need more infrastructure either. 3/4s of the regulations and foolish spending, need to be eliminated.
The US is middling as a nation in terms of homeownership rates. As much favoritism as homeowners receive here and the rhapsodies we sing in their support, the US has not succeeded in promoting it. The success for home ownership has been a great wealth transfer from renters and new homeowners to incumbent homeowners.
Yes, I would love to see property taxes replaced by a land value tax. Even better, eliminate the vast majority of state and local taxes and replace it with an LVT.
This is so good! A complicated topic - broken down into very simple terms.
I'd prefer a war on the income tax.
Another phrase for MAGA is I, Me, Mine.
Of course, state governments like California could stop funding illegal aliens, idiotic “high speed rail” projects, jet setting politicians, etc while allowing off shore oil and natural gas projects to increase revenues. Stop wasting tax dollars and keep property taxes low and affordable.
Prop taxes in CA are already quite low if you bought in early enough - would you look favorably on prop 13 repeal if it resulted in a lower average tax bill for more recent home buyers?
I will make a quibble here.
Most homes have a mortgage, and property taxes are part of the mortgage payment, so most homeowners pay their property taxes as part of their mortgage payment and don’t have a balloon payment once or twice a year.
Verbal dahiaria, disguised as a solution.
The property tax should be abolished. Also income tax should be cut back, we don't need more Government. we don't need more infrastructure either. 3/4s of the regulations and foolish spending, need to be eliminated.
Is your assumption that basic services like roads and sewage treatment are fundable w/o prop taxes or an LVT based equivalent?
Their is massive waste fraud and abuse, fix that before asking for more money.
So you’d be on board with an LVT shift that *reduced* the tax burden on homeowners?