Which state will fail first, IL or CA?
Property taxes, proof you aren’t the king or queen of the governments castle. It proves you only rent the abode from the government. Proof, if you improve your home your taxes go up. If you don’t the taxes go up. More if you improve it.
Asking professional looters to stop looting? They would rather let the entire society collapse first - as long as they think they have a shot at the final crumbs.
Over 25 years in our house. Tax was originaly $5,000 and now $11,000. Purchase price $396,000. Current appraisal only slightly higher. Great investment. F illannoy.y
I believe that it was Raegan that said “the problem with socialism is that they eventually run out of other peoples’ money”. The insane morons will tax/spend until there isn’t a single penny left to collect or spend....then, the collapse comes. We’ve seen it over and over throughout history.
Property tax, like income tax, is a hideous thing. You just think you “own” that property. You don’t. You just “rent” it from the government. Don’t think so? Just don’t pay the “rent” and watch what happens to ya.
Bankruptcy to include cuts in spending, including the ridiculous pension benefits, is the only way I can see them getting out of this situation. When will governments stop buying votes from employees by offering early retirement with inflated levels of pay? Not until the dominos begin to fall, and then only reluctantly.
Friend of mine and her husband bought a nice piece of property in Alexander County (extreme southern Illinois—Cairo is the county seat). They felt as if they were the only ones in the county who were paying any taxes. Services, like fire, sheriff, road maintenance virtually non-existent. After about 20 years, they moved back to Missouri.
The owner is hoping some sucker will buy his house.
So, he can escape with a few dollars in his pocket.
The only people the government can control are the ones who have a stake and something to lose. Just another shakedown.
A home is NOT an investment, it is a place to live. Unfortunately too many have bought into that notion. It is also a good example of the greater fool theory i.e. prices of a commodity rise until there is not a fool left to buy it (or afford to buy it).
There are three winners in every home purchase: the seller, the real estate broker, and the financing industry plus the state which also gets a cut with the various taxes on the transaction.
I am not saying that buying a home is a bad thing, frankly it leads to stability unless one is planning on a “flip”, but I don’t think one should look at buying a home is an investment.
Oh, your home still is a good investment.
For public employees.
Illinois voters have done this to themselves. California, New York & Illinois are dying from Democrat Party self inflicted wounds. People are pouring out of these three states in massive numbers. Here I come Texas, Florida, etc.
Big Government is organized, legalized crime. The Founders knew this and warned against it- yet here we are. The DemoRats are the modern Pharisees and the RINO’s are the modern Judas’s and cabal together against Truth and Freedom. They are unworthy scums and a blight on this nation.
We had a small cottage in central New York on one of the finger lakes.
No more than 30x20, probably 600 square feet.
We had only 100 feet of shoreline, the cottage had no heat - we only used
it for a few months in the summer.
The property taxes got to $7200 per year, plus a title insurance surcharge
because the Cayuga Indian tribe claimed that we and many others were in their ancestral lands and wanted reparations.
Sold it 10 years ago, made some $. Couldn’t believe someone was foolish enough to take it off my hands.
Almost $5k of the property taxes went to the school district although
we had none of our kids in school there.