In the US it is a myth that you own your home or land. This is true even if you've labored for thirty years and paid off your mortgage in full wothout ever being late even one day in the span of those thirty years.
How is that possible? Simple: Property and other taxes.
How is it ever right that the govenrment can take away your property? Property taxes in particular almost ensure that you are always on the edge of a precipice that can lead to the loss of your home. If, for any reason whatsoever, you can't pay your property taxes your home is gone. Poof!
It is my opinion that property taxes in the US ought to be eliminated. The obvious issue of how to pay for whatever is supported through property taxes is immaterial to the central argument here, that is: a person ought to be able to own their home and truly be "free and clear". If a property is encumbered with taxes you never really own it. It's an illusion.
Property taxes also have other ugly effects. For example, during the real estate boom cities found themselves with vastly more revenue than in the past. As often happens in these situations governments spent the money and made deals predicated upon the idea that the ride would never end. This, of course, was not true and whole cities have gone bankrupt as the result of their transgressions. With revenue locked to a stabilized metric (some kind of a ten year average of something, for example) this would not have happened.
In the US it is a myth that you own your home or land. This is true even if you've labored for thirty years and paid off your mortgage in full wothout ever being late even one day in the span of those thirty years.
How is that possible? Simple: Property and other taxes.
How is it ever right that the govenrment can take away your property? Property taxes in particular almost ensure that you are always on the edge of a precipice that can lead to the loss of your home. If, for any reason whatsoever, you can't pay your property taxes your home is gone. Poof!
It is my opinion that property taxes in the US ought to be eliminated. The obvious issue of how to pay for whatever is supported through property taxes is immaterial to the central argument here, that is: a person ought to be able to own their home and truly be "free and clear". If a property is encumbered with taxes you never really own it. It's an illusion.
Property taxes also have other ugly effects. For example, during the real estate boom cities found themselves with vastly more revenue than in the past. As often happens in these situations governments spent the money and made deals predicated upon the idea that the ride would never end. This, of course, was not true and whole cities have gone bankrupt as the result of their transgressions. With revenue locked to a stabilized metric (some kind of a ten year average of something, for example) this would not have happened.
Property taxes are the devil.