Are property taxes basically extortion?

[EastsideRio]

My crib was a bando for 10 years , bought it at auction with no back taxes due. Put money into and I don't worry about taxes at all.

I ran that same play. My first house was a dope house in the 80’s and 90’s. Paid 10K, Lived there for over 7 years with only $500 a year taxes. Stacked up my money and bought a bigger crib with no mortgage in a nice area. Land contract the old crib for 73K. Tenants pay faithfully.

 

[#BOTHSIDES]

Another bad coli take

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

Another bad coli take. Renters pay property taxes.

Property taxes pay for neighborhood amenities, schools, speed bumps, parks. If you want lower taxes, move to a poor, run down neighborhood

 

[EastsideRio]

Rent takes into account property taxes.

What?

Dog I own three rentals. Rent don’t go to property taxes directly but the owner pays them separately from rent. My monthly rental ($1000) is more than annual property taxes ($970). Homeowners insurance is about $188 a month. Property taxes are supposed to go to roads, schools, police, fire, libraries, etc.

 

[EastsideRio]

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

What? Dog that’s because you live in Ohio.

In Michigan one of my rental taxes is $970 a year and My cousins taxes are only like $540.

 

[Meowth tote da Uzi]

Property taxes pay towards maintenance of the roads that you drive, local fire and police departments, the school district, etc.. Sounds like a fair trade to me.

MAAAAAAN AINT NOBODY TRYING TO HEAR THAT BULLshytTT. AINT THAT WHAT TAXES ON GOODS AND FOODS ARE FOR ?? MONEY IS MADE UP CURRENCY ANYWAYS !! THAT SHIIT GOES TO WHITE PPLS ROADS AND SCHOOLS. I DONT EVER SEE THEM FIXING ANYTHING WHERE BLACK PPL AT AND IF YOU DONT BELIEVE ME DRIVE THROUGH BALTIMORE THEIR ROADS ARE FUCCKED

 

[Strapped]

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.

Dude Florida , Texas , Michigan & Ohios property taxes are getting out of control . I pay close to 10k a year . How many ways is the feds , state , county & cities are gonna empty your pockets

 

[Strapped]

MAAAAAAN AINT NOBODY TRYING TO HEAR THAT BULLshytTT. AINT THAT WHAT TAXES ON GOODS AND FOODS ARE FOR ?? MONEY IS MADE UP CURRENCY ANYWAYS !! THAT SHIIT GOES TO WHITE PPLS ROADS AND SCHOOLS. I DONT EVER SEE THEM FIXING ANYTHING WHERE BLACK PPL AT AND IF YOU DONT BELIEVE ME DRIVE THROUGH BALTIMORE THEIR ROADS ARE FUCCKED

Idiots believe the BS the government tells them . They said that the lottery was suppose to cover the schools , cities keep running up law enforcement budgets installing expensive cameras & overtime

 

[Ezekiel 25:17]

What?

Dog I own three rentals. Rent don’t go to property taxes directly but the owner pays them separately from rent. My monthly rental ($1000) is more than annual property taxes ($970). Homeowners insurance is about $188 a month. Property taxes are supposed to go to roads, schools, police, fire, libraries, etc.

So you only charge $1000/month and don't factor in property taxes? Sounds like you're losing an extra $100/month. Hypothetically, what if your annual property taxes goes up to $3000? You losing money.

I would charge $1300/month. Mortgage + property taxes + homeowners insurance.

 

[General Mills]

I’m so thankful that I am exempt from property taxes

 

[sportscribe]

Property taxes, no, but HOA is to a certain extent.

They can foreclose on your home for even a single missed HOA payment.

 

[#BOTHSIDES]

One of the coli’s worst threads

 

[OfTheCross]

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

No. There are clearly tangibles

 

[EastsideRio]

So you only charge $1000/month and don't factor in property taxes? Sounds like you're losing an extra $100/month. Hypothetically, what if your annual property taxes goes up to $3000? You losing money.

I would charge $1300/month. Mortgage + property taxes + homeowners insurance.

Dog, Idk if you understand correctly.

I have rental properties on the Eastside of Detroit. Ain’t no mortgage, these cribs were bought “as-is” fixer uppers, pre-pandemic for no more than 9-12K each for a cash sale. The price on homes went up after 2021 but go on www.buildingDetroit.org, auction.com, or fsbo it’s still some shyt over there to buy for cheap.

Me and none of the neighboring owners pay over $1100 annually for property taxes on any of those blocks or most Detroit blocks for that matter.

So every thing I got coming in is all profit. The key is to get in early.

 

[EastsideRio]

I’m so thankful that I am exempt from property taxes

My property taxes ain’t all that bad. It’s the income tax I can’t stand.

 

[EastsideRio]

Dude Florida , Texas , Michigan & Ohios property taxes are getting out of control . I pay close to 10k a year . How many ways is the feds , state , county & cities are gonna empty your pockets

Where in Michigan?

Detroit taxes cheap as hell, it’s the late fees that get people.