The fuck is wrong with your country that property taxes are so bad?
Where I live they’re based on the size of the property and if it’s the owners primary residence, there’s no tax. You’d have to have a huge mansion for the amount to be significant anyway.
In US metros, they’re typically around 2% of the home value, with discount maybe 50% for owner’s primary residence. Depending on the locality, the home value may be reappraised every year only only after a sale. If you bought a $100k house, planning retirement on $1000 annual taxes, and the area gentrifies your house to $500k, the extra $4k/year in taxes can be a budget buster.
Yeah that’s fucked up. Billionaires don’t get taxed on their stock because it’s all unrealized gains and there’s no wealth tax, but then ordinary people can get priced out of their own homes by a… checks notes wealth tax?
Nah. Those people usually don’t care about high property prices. The want their house to live and one for the holidays. People who actually live in the houses want them to be cheap.
Not going to get into a huge debate, but I disagree that it’s a good thing or even remotely ideal. I don’t there should be such huge separations in society to the point where you can point somebody out as “rich” and “poor” - especially pegging an entire neighborhood as poor or mostly poor.
We can do better to provide quality housing and the ingredients of dignity to everyone.
Its actually a good thing to have diversity of incomes in a neighborhood rather than just “oh thats the poor neighbourhood.”
lmao the last thing the poor people need is rich people moving in, raising their property taxes and pushing them out.
The fuck is wrong with your country that property taxes are so bad?
Where I live they’re based on the size of the property and if it’s the owners primary residence, there’s no tax. You’d have to have a huge mansion for the amount to be significant anyway.
In US metros, they’re typically around 2% of the home value, with discount maybe 50% for owner’s primary residence. Depending on the locality, the home value may be reappraised every year only only after a sale. If you bought a $100k house, planning retirement on $1000 annual taxes, and the area gentrifies your house to $500k, the extra $4k/year in taxes can be a budget buster.
Yeah that’s fucked up. Billionaires don’t get taxed on their stock because it’s all unrealized gains and there’s no wealth tax, but then ordinary people can get priced out of their own homes by a… checks notes wealth tax?
Nah. Those people usually don’t care about high property prices. The want their house to live and one for the holidays. People who actually live in the houses want them to be cheap.
Not going to get into a huge debate, but I disagree that it’s a good thing or even remotely ideal. I don’t there should be such huge separations in society to the point where you can point somebody out as “rich” and “poor” - especially pegging an entire neighborhood as poor or mostly poor.
We can do better to provide quality housing and the ingredients of dignity to everyone.