[Alberta's Child]

Property taxes are the best argument against ever "owning" your home. I know people in New Jersey who are content to pay $9,000 per year in property taxes just because they are in a "good school system."

How can you possibly say that you own your home when it costs you $750 per month to live there even after your mortgage is paid and your title is free and clear of all liens?

[dark_lord]

Property taxes are the best argument against ever "owning" your home. I know people in New Jersey who are content to pay $9,000 per year in property taxes just because they are in a "good school system." How can you possibly say that you own your home when it costs you $750 per month to live there even after your mortgage is paid and your title is free and clear of all liens?

You make a good point. However, unless you are Superman and fly to your Fortress of Solitude every day, you have to live somewhere. And if you rent that very same house instead of "owning" it, the owner is going to roll all of the mortgage + tax + maintenance + 10% into your rental payment. And he/she will then take the mortgage interest deduction on top of that.

I've rented and "owned". "Owning" has been better for me.

[suijuris]

How can you possibly say that you own your home when it costs you $750 per month to live there even after your mortgage is paid and your title is free and clear of all liens?

Because it is titled, you don't really own all of it. With a title the state is part owner; so they can tax it and put leins on it if they so desire.

Check out how the process of titling property got started. Ostensbibly for preventing fraud etc. More likely the real motive was to erect a system to tax property, with the the protection of the property owners only a byproduct.

[Tired of Taxes]

I know people in New Jersey who are content to pay $9,000 per year in property taxes just because they are in a "good school system." How can you possibly say that you own your home when it costs you $750 per month to live there even after your mortgage is paid and your title is free and clear of all liens?

Too many people in NJ cannot do simple arithmetic. Right here in our little blue collar town, the voters just put the same people who raised their school taxes after the voters shot down the tax increase at the polls right back into office.