Are property taxes basically extortion?

[Bumblebreh]

Prison???

yeah in the uk if you refuse to pay council tax they can send you to prison and get a 3 month sentence.They can summon you to court and you could end up adding a couple hundred to your debt as you have to pay for the court fees.
They will send the baliff to seize your car and or any other valuable possession and the baliffs will charge you over 100 dollars to seize and to store your possessions until they can auction your shyt off to help pay off the debt.So for example the bailiff can charge you around 80 dollars to send you a letter and charge you 240 to visit your house.
The worst predicament is having a charging order against you in which the council can sell your property to recover the debt.

 

[Madrasas]

So, your house is paid off, but you still gotta pay thousands every year or they'll take your house


I see why people rent smh

Property taxes are incredibly lame and irritating... but they're unavoidable. Even if you rent, you're still paying property taxes indirectly, as all the costs associated with property ownership will be factored into your rent.

 

[Bumblebreh]

Property taxes are incredibly lame and irritating... but they're unavoidable. Even if you rent, you're still paying property taxes indirectly, as all the costs associated with property ownership will be factored into your rent.

renters are paying directly as they still have to pay council tax/property tax.

 

[Pimp]

My property taxes are $5,500 a year, and they are tax deductible. That's three months of rent. One and a half if you live overpriced sandbox like California or an expensive dump like New York.

I'm in the process of selling my house and when it's sold I will have over $320k cash in the bank.

Renters won't have shyt when they're done paying rent for 15, 20, 30 years. They'll have just paid off someone else's mortgage.

This is terrible logic... You lost money and don't even know it like most people who buy houses..

You paid off 320k already? How old are you and I definitely know you failed if you paid it off quick..

 

[Duke Dixon]

The property taxes where I live are higher than the property taxes in the suburbs a few minutes away.

Every year you see a lot of t of houses in the paper because people couldn't pay for their taxes over here.

Now the houses that are sold become for rent section 8 housing.

 

[Shorty K]

This is terrible logic... You lost money and don't even know it like most people who buy houses..

You paid off 320k already? How old are you and I definitely know you failed if you paid it off quick..

He may lose some money if the property doesn't appreciate at a greater rate than tax plus interest.

You lose all your money renting, period. Also, tax + interest is much lower than what you will pay in rent to live in a similar piece of property not to mention the write offs you don't get from renting. #StayBroke

 

[AtomicUse]

What advice do you have for a young breh in terms of saving?

If you don't need it, don't buy it.
Establish a career in a well paying field.
Don't have children.
Marry a quality woman with common sense, and just as much money as you

You're 23 and most people your age make bad decisions and waste their money on things that don't appreciate, get pregnant or get someone pregnant, don't plan well, and then when they're my age, 10+ years later, life starts kicking thier ass. Ive posted it before, I earn $145k(administrative) and my wife earns $225k(medicine). We made smart decisions when we were your age and luckily found each other and have a common goal. We are selling the condo we live in now to buy a house in the suburbs, will pay it off, sell it and then retire and move out of the country. You don't have to be broke, you can have money and live well too.

He may lose some money if the property doesn't appreciate at a greater rate than tax plus interest.

You lose all your money renting, period. Also, tax + interest is much lower than what you will pay in rent to live in a similar piece of property not to mention the write offs you don't get from renting. #StayBroke

Guy is a close-minded hater, not even worth it. A lot of people out here, like myself and my wife, actually have and make good money. Some people can't even comprehend that. Even with the lowest offers I've gotten on the condo I will have made money off it. We gross more in income in one year from our primary jobs than the value of the condo, and if I wasn't such a miser I wouldn't even give a damn about selling it for a profit.

Renting is just paying someone else's mortgage,that's all you're doing. I can't believe they brainwashed people into believing otherwise.

 

[50CentStan]

don't let no state income tax states trick you. they have higher property taxes to make up for that. Texas

 

[Pimp]

He may lose some money if the property doesn't appreciate at a greater rate than tax plus interest.

You lose all your money renting, period. Also, tax + interest is much lower than what you will pay in rent to live in a similar piece of property not to mention the write offs you don't get from renting. #StayBroke

That's all fairy dust... 320k house...put down 20% that's 64k... Now let's talk opportunity cost.. Let's say you take that same 64k...You invested it Facebook and rented...Without adding another dollar you would have 546k in 5 years of your initial 64k investment.

Now let's say you're "scared of stocks it can go up and down" How about taking that 64k, buy a 2 family house and rent it out while you live in a apartment.

Both ways = more money than living in a single unit house..

Single unit houses were only made to profit banks who live off interest. You can become the bank by following their principles and living off interest.

 

[Contrefaire]

They're not extortion but they are essentially a way to ensure you never fully own your home and generate an endless stream of revenue for the government.

But really it's no different than vehicle registration. You can purchase a car in cash and every year you'll still have to pay the state essentially for the right to legally operate it.

 

[Shorty K]

That's all fairy dust... 320k house...put down 20% that's 64k... Now let's talk opportunity cost.. Let's say you take that same 64k...You invested it Facebook and rented...Without adding another dollar you would have 546k in 5 years of your initial 64k investment.

Now let's say you're "scared of stocks it can go up and down" How about taking that 64k, buy a 2 family house and rent it out while you live in a apartment.

Both ways = more money than living in a single unit house..

Single unit houses were only made to profit banks who live off interest. You can become the bank by following their principles and living off interest.

Rent = no money back.
Own = get money back.

I don't know why this simple concept just flies right over your head. If you're that savy an investor, put 5% down on your house, invest the rest in facebook, quickly pay off and flip your property and lose less than what you woulda loss by throwing your money down the drain renting.

 

[Save $ not Hoes]

So, your house is paid off, but you still gotta pay thousands every year or they'll take your house


I see why people rent smh

Yes it is a fleece look up Allodial title

Allodial Title Law and Legal Definition
Allodial title is a real property ownership system where the real property is owed free and clear of any superior landlord. In this case, the owner will have an absolute title over his or her property. Property owned under allodial title is referred as allodial land. Allodial lands are the absolute property of their owner, and are not subject to any service or acknowledgment to a superior. In allodial lands there will not be any control by a superior landlord.

An individual’s allodial title is alienable in nature. Alienation can be done in the form of gift, mortgage or it may be distressed and restrained for collection of taxes. The allodial nature of a property will be lost when the property is transferred to more than one person. Therefore, to retain the allodial title s/he can transfer his or her property to another single individual.

For example, when an owner of a property dies leaving ownership to more than one heir, the allodial status of the property is lost.

 

[AtomicUse]

Rent = no money back.
Own = get money back.

I don't know why this simple concept just flies right over your head. If you're that savy an investor, put 5% down on your house, invest the rest in facebook, quickly pay off and flip your property and lose less than what you woulda loss by throwing your money down the drain renting.

Such limited vision he doesn't even think there people with money that can put another $64k in Facebook stock after putting a down payment on a house, that we get right back once we sell it, and what he spends in rent in 5 years just went out the window and he won't have anything to show for it.

I get 5 years worth of tax breaks and build equity in a home and my mortgage payment never increases, while his rent goes up every single year, and if his rent averaged $1,200 then he just spent $72,000 and doesn't have shyt to show for it.

 

[Pimp]

Rent = no money back.
Own = get money back.

I don't know why this simple concept just flies right over your head. If you're that savy an investor, put 5% down on your house, invest the rest in facebook, quickly pay off and flip your property and lose less than what you woulda loss by throwing your money down the drain renting.

You're not getting money back but you're too stupid to understand

 

[Shorty K]

You're not getting money back but you're too stupid to understand

This nikka's an idiot