dumpster56
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This is sad, wanna work for 7 dollars an hour?
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Spanky
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$12,000 per year property tax is nuts for a $470K house ( Town of Greenburgh - Assessor's Office). It may be true that taxes are used to support excellent schools, libraries, police and fire services, but that's just too high - IMHO. I suspect the county pays teachers, police and fire fighters well (for their outstanding services) but offers only $7 an hour for the seniors who cannot afford to pay property taxes?!
Spanky
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Our county (in Minnesota) has a tax rate of $12.00 per $1,000 of value. The school system is one of the best in the country.
OAG
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It is just sad in MHO. The real problem is why are the taxes so high? Why are older people still paying for School Taxes? What happens to the seniors that cannot work or those that can now but can't later? Reduce expenses, come up with a way to reduce taxes for those that cannot pay. This is no solution at all just a way for the Government to keep the tax collections up and keep funding all of the pet projects.
In Texas it's not unusual for someone with a $200,000 home to pay $5,000 per year in property tax. With a $600,000 home, that could easily be $18,000.
That's one of the traps I see for ER in Texas. Property value for the "big one" (school taxes) gets frozen when the person "homesteading" the property reaches 65 but it will keep climbing until then. School tax rates can be increased which will increase their tax bill and they do. The other taxes keep on rolling up. All of this is causing many problems with people not being able to afford to stay in their homes -- both retired and not. Texas has a very aggressive posture in pushing the appraised value of property and many people appeal their taxes every year.
Texas not having an income tax creates the false illusion that moving to Texas will save you taxes. The only way it will is if you live in a very inexpensive place. That's why I'm looking at moving from Texas. I can manipulate my income in retirement but I can't do anything about the property tax bill except move.
Not to mention the scorpions and ebola.....
lets-retire
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audreyh1
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
You don't have to move out of state! You just have to avoid owning real property, or own an inexpensive piece of property - very easy in TX since real property values are so much lower than the rest of the country.
Audrey
UncleHoney
Full time employment: Posting here.
My mom and dad lived in Worthington Hills (off 315) for about 35 years. My dad made the observation one time that the "high rollers" would move into the area, vote for all the school levies, and then move when the kids were out of school or get transfered. That left the longtime residents holding the bag for the taxes. When new people moved in there would be another round of tax increases.
Speaking of property taxes, did you get in on the Homestead Exemption for us Buckeyes? MY taxes went down about $385.
DW put us over the line this year.
OAG
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Got the HS for OH this year taxes went down $518.08; now the bill is $6.7K versus $7.4K and that also accounts for SMALL successful BOR challenge this past year for about $130. With this level of RE Property Taxes I am paying them twice in one year so that I can itemize in the year I pay them and use the standard deduction in the alternative years. State Income Taxes will go down this year (2008 now that OH has joined about 40 other states in exempting Military Retired Pay from State Taxes. You have to really stay on top of the tax situation.
wallygator69
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Ya'll should move to Dixie.
South Carolina just increased the sales tax by 1% and took most of the School expenses off of the Real Estate taxes (let the tourists help, theory). My house is appraised at $200k could still sell it in this market for $330k tomorrow and probably $375K if we worked it.
2008 Property Taxes are $815.00..
W
Dawg52
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Don't you watch Man vs. Wild those scorpions are a free source of protein.
I quit watching it when he started drinking his own urine.
Robert the Red
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When I lived in Fox Point WI (prop taxes about 3.5% of value), there was a letter in the local paper by a 75 year old complaining about just that -- he said he had 12 kids go through school, and was tired of paying school taxes all these years, and thought that seniors should not have to pay for schools any more since they wouldn't have any kids in the system. My response was (and is) that all the property taxes he paid in his life did not pay for the 12*12 years of public education his kids got -- people like him are made up for by people like me who don't have kids, don't plan to have kids, and still pay taxes to support the schools.
As for fairness -- well, the property tax is somewhat unfair, since it has to be paid out of income -- the income tax is fairer, but people whine and complain bitterly about that, too.
UncleHoney
Full time employment: Posting here.
Plus we got another little kickback, 4.2%.
The Columbus Dispatch : Income tax drops 4.2% for Ohioans
OAG
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RtheR: So it is just another Ponzi Scheme!
FinanceGeek
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If that $7/hr were itself free of SS/medicare and income taxes it wouldn't be as bad a deal.
But I doubt that's the case, in fact the killer is that many of these seniors are probably going to pay more taxes on their SS benefits if they participate in this program.
This is why so many seniors retire to "adult only" communities in the Southwest where there are no schools to fund.
But I doubt that's the case, in fact the killer is that many of these seniors are probably going to pay more taxes on their SS benefits if they participate in this program.
This is why so many seniors retire to "adult only" communities in the Southwest where there are no schools to fund.
Why property taxes
The reason property taxes are used by local government units is that they are a reliable source of income. If the local government units relied on income or sales taxes it would be impossible to produce a budget that was predictable year to year since these taxes can vary because of the state of the economy. I am not stating that it is fair but there is a reason behind the madness. While property values may vary up and down the tax rate will compensate so the government units will get the money they need. The real problem with property taxes is the inability of the state government to meet their own obligations and force more of the tax bill to local government units and their only recourse is to increase property taxes.
I am a former school board member from Indiana. In my time on the board the State and Federal governments would mandate certain programs but would not provide the money. We had no choice but to fund the programs (state law) so property taxes would be increased. One item the State forced down our throat was the funding of everyday expenses. School financing is complicated. The school corporations have 5 to 6 funds that are budgeted for. Money can not be moved from one fund to another. The general fund is the fund where everyday expenses are paid. The State helps provide money for this fund. This is the only fund they supply money for. Several years back instead of providing more money for the local schools the State passed a law where we could pay some of these expenses from the Capital Projects Fund. This fund is for capital improvements and is all local money provided by the property taxes. They "LET US" use this money for everyday expenses. So instead of the state legislators catching the blame for a tax increase to continue to fund the schools at the current rate they "LET US" increase the capital projects tax levy for our neighbors and friends.
So while you are raising heck with the local officials save some of it for your state representatives.
The reason property taxes are used by local government units is that they are a reliable source of income. If the local government units relied on income or sales taxes it would be impossible to produce a budget that was predictable year to year since these taxes can vary because of the state of the economy. I am not stating that it is fair but there is a reason behind the madness. While property values may vary up and down the tax rate will compensate so the government units will get the money they need. The real problem with property taxes is the inability of the state government to meet their own obligations and force more of the tax bill to local government units and their only recourse is to increase property taxes.
I am a former school board member from Indiana. In my time on the board the State and Federal governments would mandate certain programs but would not provide the money. We had no choice but to fund the programs (state law) so property taxes would be increased. One item the State forced down our throat was the funding of everyday expenses. School financing is complicated. The school corporations have 5 to 6 funds that are budgeted for. Money can not be moved from one fund to another. The general fund is the fund where everyday expenses are paid. The State helps provide money for this fund. This is the only fund they supply money for. Several years back instead of providing more money for the local schools the State passed a law where we could pay some of these expenses from the Capital Projects Fund. This fund is for capital improvements and is all local money provided by the property taxes. They "LET US" use this money for everyday expenses. So instead of the state legislators catching the blame for a tax increase to continue to fund the schools at the current rate they "LET US" increase the capital projects tax levy for our neighbors and friends.
So while you are raising heck with the local officials save some of it for your state representatives.
Spanky
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The part that's missing is what % of "fair market value" is the assessment based on? Texas is going to the 110 to 120% range and forcing annual protests. I know some states assess well below 100%.
ERD50
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I don't get what is 'sad' about this. It just *is*.
One of the things that helps keep property values up is a good school district. Everybody pays for that in their property taxes, whether they have kids in the schools or not. No one changed the rules on them mid-stream, so it should be no surprise. Deal with it (to be blunt).
My property taxes are high, and it is factored into my ER plan. If things don't go so well, I will decide to downsize. Maybe I'll be 'sad' if it comes to that, but I don't expect my neighbors to pick up the tab for me, just so I can keep living in the 'style in which I've become accustomed'.
The county is offering them a job - if they don't want it, don't take it. But why complain?
-ERD50
JPatrick
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Yup, that works on paper, and if you live in the typical TX city the cheaper you go the bigger the gun you'll want to protect your "tax saver."
audreyh1
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LOL! In the first place, don't live in a TX city! There are lots of great towns - cheaper and safer.Yup, that works on paper, and if you live in the typical TX city the cheaper you go the bigger the gun you'll want to protect your "tax saver."
Second, the only times I've heard gunfire in a city I was in other states.
Audrey
