When Seniors, who are on a fixed income, cannot absorb any more increases, look to move other counties, states or countries. And they take their knowledge, legacy, and heritage with them which is a loss in the area in which they lived.
My mother, before she passed away, was complaining about her property taxes. I live in Georgia in a good county where at age 62 property taxes go down by almost two thirds (from $1506 to $506 a year). So I looked into it. Her house value in Virginia had to be below a certain limit that was well bellow the median value for the county. So there were no breaks for her! Stealth Tax!!
She also saved in a Traditional IRA during her working career. She was sick of the Required Minimum Distributions (RMDs) she had to pay being over 70. Her state had an exclusion but went away at a certain retirement income! So she got no break from that as well. Investing wisely had hurt her (Another stealth tax).
We talked of her moving, but she felt she was too old for that.
So be wise where you live. It may make a huge difference in the latter years! If you are young, repeat these words after me:
ROTH, ROTH, ROTH!
I know. Property taxes go up due to inflated home values, so it’s a win-win for the government, and a lose-lose for taxpayers. Iowa just increased funding to the government schools, even though there are fewer students now. The majority Republican legislature did this! Government ed is an albatross around our necks.
Thought about moving to a different country with lower taxes and more freedom (and one that doesn’t sacrifice it’s young in useless foreign conflicts), but I’m too old and not very brave.