I have a close friend who had a fully paid off property in Hawaii. It was a 3K square foot home right on the beach that was bought in the 80's and paid off throughout the years. The family retired and saw the prices of property in the area sky rocket over the years. The value of the home went up to 4M.
That said, this family had no means to cover the property taxes as everything in the area went up 10,000%. They were locals and hated the fact that all the silicon valley people were buying up all the land on the island in what they considered an invasion. They tried to fight the state on the property values and property taxes which they could no longer afford to pay. End result is they lost and unfortunately the Government seized their property before they could sell it.
It should be no surprise to anyone that news is now saying that the Government is going to land grab all of the displaced property on Hawaii. They have been doing it for awhile now. The sad news is that there is going to be no one left on these islands whom can afford to live there and work the jobs that keep that economy alive. Bye bye islands... and to fuckers like Zucherberg - good luck with owning half an island when there is no one on the other half who can afford to maintain it.
I am salty over property taxes specifically. I busted my ass for years, paid off my house, and was finally able to retire. Now I”m back at work specifically to pay my property taxes, which increased from $6000 to $7500 in the course of a single year.
I understand having to pay a certain amount of taxes for society to function. I have a major problem with the government being able to steal my property if I can’t pay my property tax. What if I fall on hard times? What if I die? Will my wife eventually be homeless? Don’t know how it varies in other states, but in Texas, you don’t really own your house.It’s total bullshit.
To your point, I agree with you. Tariffs were the historical way to go if not abused. Lincoln got greedy with tariffs and the South ended up seceding. There is a sick addiction amongst politicians who salivate over spending other people’s money.
Well, actually they make so much money with their fiat Ponzi scheme they could easily run the govt on that alone. But yes, if we return to a more fair and actual monetary system, fees & tariffs could fund the govt completely, once all agencies are eliminated & it has been slimmed down to what is actually needed.
They don’t specifically need to tax us directly. It’s just useful to get us peasants from getting too uppity.
bingo
It's a tool of oppression which they target specific groups or even individuals and the random nature of getting audited is the perfect cover
I couldn't agree more. I figure between 0.5%-1% flat tax set at the time the home sells. Prices drop, too bad, prices go up, your tax burden does not.
Taking any home due to tax loss is despicable.