And those same commies are suggesting that us boomers sell our homes to make room for up and coming home buyers.
That is a hard no. My house is paid off. In a short time, I will be able to freeze my property taxes (hitting 65).
Lower the mortgage deduction to $200k-one time only. That will lower prices.
Why should anyone taking out a million dollar loan need any kind of tax break?
Instead of freezing the property taxes, file a form 50-126 for Texas, at the county level, to defer the taxes.
You stop paying taxes at all, and the property taxes continue as a lien on the property until it is sold - presumably when you and the missus pass.
You do it for cash flow reasons. No one likes a lien on the property for 20 years, but depending on Gov Abbott’s new property tax proposal it may be an extra step in a plan.
“That is a hard no. My house is paid off. In a short time, I will be able to freeze my property taxes (hitting 65).”
Only school taxes.
When I lived in Texas we had a bunch of different “property” taxes.