Quit the charade. No one can own a home when the state can tax the property every year and if the tax is not paid then the property is confiscated. That by definition is not ownership as no one can ever have clear title of the property. Oddly only the state by definition can truly realize the American Dream.
The "American Dream" is just that and nothing more, so call a convention of the states and end perpetual taxation of Real Estate or keep dreaming.
This is so true; I am now in my fourth and presumably final house, and the property taxes are more than the mortgage was on the first house bought in 1976.
I found a cheap little home in Carbondale Il just the other day.
It was a 3 bdrm with a small bungalow behind the main house.
..just 42,000 and the place was well maintained.
Looked up the tax info on the county website and it said 0.00
Turns out it was owned by something called the Southern Illinois Homeless Alliance.
They said it would have to be re-assessed once it was sold by the non-profit group.
The tax rate is 10.25% per year on the assessed value.
The tax could end up being close to 5,000/yr ..on a dinky little home like this!?!?
I said to the Realtor “I thought maybe I could rent the bungalow to pay the taxes...but I’d have to live in the tiny bungalow and rent the house instead!”
I liked the place because it’s on a quiet street and within waking distance of a WalMart Supercenter (I have small dreams..lol)
This is madness! Taxation has turned this nice little home into a money sucking nightmare.
http://www.bobdavenport.com/Listing.aspx?mls=331280
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