Posted on 05/15/2006 7:35:44 AM PDT by tmp02
If you have bought you house(s)/properties outright, with no loans to the bank, and a depression occurs, how do you pay for property taxes - you can't pay with vegitables and the family cow (barter system)? Does anyone have any idea what they did in 1929-32 when they lost their jobs?
you think we're headed for a depression?
I don't know
You lose your property to the gubmint, who sells it to cover taxes.
"Pa said shoot anyone who comes to the house with papers."
I'm depressed every time I pay my property taxes......
They sold some of the land for fractions of their worth.
Increase your dosage of Prozac.....
Did they pay property taxes back then?
>Did they pay property taxes back then?
I don't know...
weakly
>They sold some of the land for fractions of their worth.
to who would they sell. No one can get money out of the bank. Does the government take all?
When they could.
They had numerous tax revolts across the nation that put pressure on politicians to create tax limitation legislation, homestead exemptions, reductions in property value assessments etc.
The only problem was the local governments had to replace these lost taxes, so this is about the time you saw the beginning of state and local sales taxes. - OB1
Actually, IIRC (from reading not personal experience), during the great depression, some states issued moratoriums on property tax payments (I can't recall if the taxes still accrued...I think they did).
They had numerous tax revolts across the nation that put pressure on politicians to create tax limitation legislation, homestead exemptions, reductions in property value assessments etc.
The only problem was the local governments had to replace these lost taxes, so this is about the time you saw the beginning of state and local sales taxes. - OB1
I know that a lot of people were simply screwed. My great grandmothers first husband just left her and 5 kids and never returned.
She did manage to survive and hold on to her home. She took in boarders and did laundry. Plus her 4 sons worked to help pay bills and her daughter helped with boarders and laundry. Eventually she married my great grandfather out of pure necessity and was with him until his death in 85.
Yup.
LOL, people don't understand that you never own your property, you're just leasing it from the government. If you don't pay your rent (taxes), they come and take it. No if, ands or buts!
My parents were poor farmers during the depression, my mother (bless her soul) would always snicker when she would tell me how they hid the plows down the water well when the bank came to repossess them. These were plows pulled by horses, not tractors or big combines we are familiar with today.
My parents were pernamately scarred by the depression. They were kids during the depression and eventually made 'good' in their adult life...but, the scars were still there.
Some people have money during Depressions. Some people have a lot of money. It depends on your business.
But really, the idea is: I have a 1000 acre farm. It's "worth" about $100 an acre. I owe $1000 in property taxes. OK, I'll sell 10 acres to raise money. Oh!Oh! We're in a Depression! No one will buy my land for $100 an acre! I end up selling 500 acres to raise $1000 so I can pay the property taxes and keep the other 500 acres.
This is why the other poster said: "They sold some of the land for fractions of their worth".
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