this post was submitted on 15 May 2025
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A Boring Dystopia
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The homeowners have two options, and both options suck.
Both alternatives carry costs. But they own a home worth 4.4mil and have to pay 2% of that each year. That's pretty low.
Renters have two options:
At least if the homeowner sells they get the windfall.
Hmm. So if you buy a house in your 20s, by the time you retire, you would have bought the equivalent of 2.5 houses. One for you, one from the government for the privilege of living in the one you bought, and half a house worth of interest to the bank.
That's an insane amount of money.
Yes. Living in a safe and orderly society has a subscription fee.
I mean, if the US government wasn't so stingy about, y know, actually spending on it's people instead of the military, tax cuts for billionaires and buerocracy, it would be fine imo. Here, in CZ, I'm mostly fine with the taxes since we're a pretty safe country with decent healthcare. Despite the country still having a huge corruption problem and housing market in flames, it still somehow has higher living Ng standard than the US.
Your property taxes don't go towards those things though. Maybe a bloated police force, but that’s still usually funded via earned income tax.
Your federal taxes could go towards local governments if we prioritized it. There’s a choice made, and that choice forces cities to adopt as many taxes as they can get away with in order to fund themselves.
100% we should complain about how our money is used, and how much is paid by whom. But that's a different complaint.
American cities must be terribly poor to need to tax houses
Don't you pay tax also for the purchase itself? Might be anothe 10%
And the yearly tax, is it based on purchase cost or current value? The later would be harsh seeing how they increase.
There’s no tax on buying property, however, property taxes are a percentage of your property’s assessed value. In my locality, the assessed value has a lot of deductions whereby my 400K house is only taxable as 32K in value, so I pay 3K/year in taxes.
I can’t speak for Florida, but if it’s like Arizona, their property is worth a lot more than 4M if their total tax burden is 90K/year.
Current value, unless you have some exemption. Which is what stung these people.