This is probably what we need here in NH.
We fund our entire government from property taxes and vehicle registrations.
NH has NO INCOME TAX
NH HAS NO SALES TAX (except 8% rooms and meals tax). If you eat out or buy prepared food there is an 8% tax.
I just received my semi annual town tax bill $4700. I have a typical house. It is not a McMansion and I do not live on lake or ocean front. All the houses abutting me have higher tax bills.
All that being said there are many seniors/retirees who can not afford to pay almost(or more) a $10000 annual property tax bill. So, we probably need to means test the income of seniors and potentially cap the rate they pay. What this will mean is that people under a certain age WILL PAY MORE.
The problem with this is that SENIORS have on average the highest amount of wealth. Their houses are typically paid off. No mortgage. Their kids no longer live with them. So, less mouths to feed. Their kids are no longer going to college. They no longer drive to work. So, their cars last longer. They pay cash for their cars many times. They also pay less in fuel tax because they do not drive as many miles and buy as much gas/diesel. They tend to eat out more because they have more disposable income. You can’t take it with you.
SO, every time I here about one of these SOB stories that so and so can not pay his property taxes because HIS HOUSE is now worth a MILLION dollars. Then sell it to a developer. Move to some place cheaper.
“The problem with this is that SENIORS have on average the highest amount of wealth. Their houses are typically paid off. No mortgage. Their kids no longer live with them. So, less mouths to feed. Their kids are no longer going to college. They no longer drive to work. So, their cars last longer. They pay cash for their cars many times. They also pay less in fuel tax because they do not drive as many miles and buy as much gas/diesel. They tend to eat out more because they have more disposable income. You can’t take it with you.
“SO, every time I here about one of these SOB stories that so and so can not pay his property taxes because HIS HOUSE is now worth a MILLION dollars. Then sell it to a developer. Move to some place cheaper.”
The education of ‘Young Pioneers’ is of little value to seniors.
Cool, woodbutcher1963 is all for taxing people out of their homes. Proud of you bud.
I assure you, most seniors do not fit into this profile, which is an average, not an overall condition. You are focused on the 1% who skew the average sharply upward.
If you moved to the place you want to live during your life why should the government be able to raise taxes so high that eventually you have to move to a place that you don’t want to live, and do it at the time of your life when you most want the comfort and familiarity and pleasure of your home and of the location you worked to own, and with the very plan of having a great retirement there someday?
“Move to some place cheaper.”
When you’re 85 I’ll remind you of that. And I’ll watch with amusement as you attempt to pack and do repairs and all the things you need to do before selling your house and moving. Not to mention coming up with the $13,000/month for assisted care.