Being selfish about property taxes
All this debate about property taxes has got me completely and utterly confused. It seems to change by the hour.
But I do know what I want, and I'm selfish about my interests. I want a solution that will protect me and mine. When I downsize in four or five years, I don't want to face a hefty property tax bill in my next home because I've been living forever in my current home. So I want portability.
At the same time I recognize we need some equity. It's not fair that new buyers are socked the way they are now. How will my children afford to live in South Florida?
But I do know what I want, and I'm selfish about my interests. I want a solution that will protect me and mine. When I downsize in four or five years, I don't want to face a hefty property tax bill in my next home because I've been living forever in my current home. So I want portability.
At the same time I recognize we need some equity. It's not fair that new buyers are socked the way they are now. How will my children afford to live in South Florida?
posted by Ana Veciana-Suarez at 8:19 AM
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6 Comments:
It's a difficult situation - I can understand your confusion. On one hand, there are many folk who CANNOT afford to sell their property because they would pay much more (in taxes) to live in a smaller home. That does not make sense.
On the other hand, the market has been priced out of any similarity to reasonable prices. So, new buyers pay taxes on HIGHLY overpriced properties.
Whenever we watch the TV shows that depict home buyers in other cities, it makes us sick to see how much more property and house can be purchased with the same amount of money. It's crazy.
Something has to be done - starting with curtailing some of the greed that has pushed our prices sky high.
Blame the FEDs for low interest rates earlier in the decade and house flippers.
I can consider portability, but the whole "no property taxes, rely only on sales tax" idea is, IMO, greedy, short-sighted and unworkable.
We cannot rely only on sales tax and expect to maintain vital programs in our community. Another year like 2005 where we get hit by 4 or 5 hurricanes, thereby dinminishing the tourist income would break us.
Best plan is the Florida House's plan. All Florida residents will pay the same property taxes, $0.
We will not have to worry about Save our Home cap, portibility, recorde keeping, homestead exemption, ect..
Local government spending is out of control. Their budgets have doubled or tripled in a few years.
That is ludicrous. It just shows, the more you feed the beast, the hungrier it gets.
IT'S DIET TIME IN 2007.
Selfish is getting all the breaks and wants portability too? That's not just selfish, it should be outlawed. It is restricting young families from the American dream of buying a home to raise a family. Wait til all the young move out of state and see what you are left with....
The new rich are the older homeowners with little property taxes.
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