I bought my first house in 1966. Due to an inheritance & purchasing a 2nd home, at one time, I owned 3 homes.
The accumulated property taxes of all 3 of these homes never exceeded $10,000.
I certainly would like to see how many tax filers have a property tax exceeding $10,000.
I certainly would like to see how many tax filers have a property tax exceeding $10,000.I do. I'd guess that many in San Diego County do.
CA is lower on average due to Proposition 13. However, CA gets around this by sacking everyone with other local and state taxes (oh, and by the way, both the House and Senate bill obliterate these deductions so the Feds can extract more money out of people).
I saw Hugh Hewitt on television a few days ago. I really like and respect Hugh. We have e-mailed on several occasions. He is a great support of our military, and of veterans. He is one of the best informed talk radio hosts: he understands far better than Rush, Hannity, Savage, how Washington really works, how agencies work, how Congress operates, and of course he understands the law. Only Mark Levin is smarter than Hugh in terms of intellect.
Hugh is very much for this terrible "tax cut" bill. He has been speaking with members of the GOPe, and Hugh repeated that both chambers want to eliminate state, local, and property taxes (the House version caps property taxes, but that is going to be thrown out in conference). Hugh stated: "They have to eliminate SALT because there is real money there."
What Hugh means by that is they want our money - to pay for a tax cut for Google, Amazon, Apple, and Facebook.
Both the Senate and House tax bills have two frameworks:
1. Favor corporations above all, but throw out propaganda that the bills are really tax cuts for the middle class
2. Scrounge for loose change in Federal revenue by eliminating or reducing almost every existing tax deduction to pay for slashing the corporate rate from 35% to 20%.