A Boring Dystopia

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‘My Property Tax Went From $15K to a Life-Altering $91K a Year’ (www.yahoo.com)

submitted 1 day ago by [email protected] to c/[email protected]

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[–] [email protected] 5 points 23 hours ago (2 children)

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.

[–] [email protected] 3 points 16 hours ago

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.

[–] [email protected] 3 points 22 hours ago

Current value, unless you have some exemption. Which is what stung these people.