Posted on 05/20/2022 10:34:05 AM PDT by hardspunned
Beautiful economy democrats, thank you so much.
Now when the vast majority can’t afford a home and get government assistance, who’s going to pay these astronomical taxes?
That loop hole was closed a while ago.
Yup—that is what happened during the Carter inflation.
Folks just started skipping the “extras”—the foreign travel became local travel, the new car became a used car, the fancy restaurant dining became fast food, non-critical home maintenance was deferred etc.
It's a big deal in the sense you're talking about - that's true.
I was talking about the fact many people won't notice property taxes per se because they're use to their mortgages going up every year due to a collection of increases. Increases in things like homeowners insurance, hurricane insurance, flood insurance AND property taxes. Since I live in Florida - we have all of 'em going up.
Bingo!!! And a big reason why we avoided relocating to Texas.
CA prop 13 is a joke for anyone buying in CA nowadays.
And they knew damn well those in CA who stayed in their homes for the past 30+ years paying little tax, would all come to an end when those people die off.
Eventually everyone in CA will be paying sky high property taxes as those now benefiting from Prop 13, die off.
If you have paid off your mortgage and car(s) this will be your largest bill.
Yep. When you plan your retirement, it’s important to focus on the costs that you can’t avoid that will increase over time, especially something like property taxes that can cause you to lose your house if you can’t pay.
I retired last August, and leading up to that I did a ton of research and estimating of likely expenses, not just at the moment of retirement but 25 to 30 years into the future. In talking to coworkers who were also considering retiring, though, I was shocked at how little thought most of them had given to the specifics. And almost none of them had given any thought to inflation (but thanks to Brandon, I’ll bet they’re thinking about it NOW).
Even before retiring, I’ve always tried to live below my means, instead of spending every penny and then some. I saw too many coworkers and friends who became “house poor” by buying houses they really couldn’t afford, and then used debt to make up the difference. As I planned for retirement, I made sure that our (my wife and I, not my new “pronoun”) would have a retirement income that was at least three times our basic expenses (in today’s dollars). Some of that was achieved by maximizing income, but a lot of it was achieved by simply keeping our costs low.
When both of us were working, we frequently bought new cars every two or three years (not wise), for example. Now, while we do have one new car (didn’t have a choice, my wife drives like she’s Mario Andretti and her car was falling apart), my car is now almost 17 years old. It’s well-maintained, though, so in great mechanical condition. Cars are horrible “investments” because they depreciate and they spend most of the time just sitting in the garage.
We also never bought too much house. Our house is about the smallest you can buy, but it’s plenty of space for two of us (and it’s paid off). The house is just under 1,000 square feet, not counting the partially-finished basement. And since we live in Colorado, where home prices have skyrocketed, even though the house is small it’s still worth a lot more than homes in many other states. That gives us the option to stay here, where despite the blue insanity going on property taxes are very low. Or, we can move to a cheaper state at some point and use the difference in home price to buy a nicer home or offset inflation.
So by making conscious decisions to set our expenses up like this, we will be able to weather future inflation (normal inflation anyway, nothing will be adequate if Brandon-level inflation continues long-term). It’s just common sense, but many people seem to just jump off the retirement cliff without at least doing some basic planning.
No loop hole was closed, unless the DOI and Constitution are completely null and void.
Go to 1101 USC § 21 and 23, if memory serves, and you’ll find that one can repudiate one’s status as a UNITED STATES citizen, and retain one’s citizenship of one’s state of domicile. You are then seen as a State National, a resident alien owing allegiance to one’s home state.
That’s the quick and easy first part. Completed essentially with one filing - takes about 2-3 months.
Once this is done, you are still obligated as a ‘citizen’ to everything as now, however, free to start unwinding all the crap put on you. Take allodial title to your automobiles (they need not be motor vehicles unless engaged in commerce). Take a land patent on your land and property on it.
The above should NOT be done to get out of paying government, but to shed your citizen privileges and re-establish your rights as a freeman/freewoman.
“So it’s not a big deal.”
Yet. Until they get the notice that their house payment is going up, a lot. But, that will take 6-9 months.
Whoever is in favor of tax cuts regardless of its effect on the debt and deficits is not a conservative.
Of the states with car taxes, Virginia is the highest, and that’s AFTER the car taxes were partially phased out by the Gilmore administration.
I beat that system by driving old cars.
No, they won’t, because the city that went on a spending spree and built a bunch of new buildings still has the debt service to pay for, even after the market crashes.
Ain’t that the damn truth. The politicians have been squawking about lowering property taxes for years yet they keep going up, up, up. Ain’t no damn way my little ole lot is worth 20K.
It is this nonsense that resulted in Prop 13
Actually, that didn’t solve the problem. What we found was that they took many of the taxable items out of the “property taxx” assessment and put then in special assessments. The property tax stayed the same but the special assessments, when added, doubled the overall tax and continued to go up. Doesn’t matter what the law says, governents will find some way to get around it to get more money.
CORRECTION: Prop. 13 only applies to homes purchased 1978 or before. 1979 and after you are subject to whatever increases the legislature passes.
See post 58.
Prop 13 is forever—for folks who play their cards correctly.
Since I live in Florida - we have all of ‘em going up.
**********
I spent most of my lifetime in SW/LA or SE/TX not a great
distance north of the marsh line in either state. Rita
made a mess of our house. We had a large pin oak tree
about 8’ from the corner of our house. It was blown down
and crushed about 1/2 of the structure. Fortunately it was
garage area/storage and not a lot of the living space. We
had good insurance and was able to stay off site for about
six months until work was completed. I think that is why I
hate motels like I do today.
No sale...Get real! The devil is in the details
#1 That would apply to a very small percentage of homeowners.
2 Most people with kids don't will all the kids the house, as 99 percent of the time the inheritance dictates the house is to be sold and the money gets distributed equally.
C'mon.
Again, it won't be much long and EVERYONE in CA will be paying sky high property taxes, as they all die off. And that is happening really quickly. The corrupt state knew full well this was going to happen.
Bet the rent.
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