I am very interested in the movement to eliminate Property Taxes ex: Understand the need for local funding but believe taxes on your home are not a good way. There have been a number of news stories about people being forced out of their lifelong homes because they couldn't afford the property taxes anymore. I've talked about this issue about among my circle of friends but now it seems to be going national. I wonder if others are interested in this Ohio becomes property tax battleground "The impact of this heavier property tax burden on Ohio homeowners is getting hard to ignore, with tax delinquency rates shooting up across the state. In Mahoning County, the tax delinquency rate is currently 18 percent, according to reporting by Tribune Today, with about $71.9 million of uncollected property taxes. "Ohio families need urgent property tax relief because rising tax bills are squeezing working Ohioans who are struggling to afford their homes, But some residents fed up with waiting for lawmakers to fix the situation are taking matters into their hands. A grassroots movement to abolish property taxes in Ohio is growing increasingly frustrated with the state legislature. Whatever suggestions they make for reform, they say they will push forward with their attempt to put abolishing property taxes in the state on the ballot." US National map of States considering changing their Property Tax Law Map Shows States Where Property Tax Could Be Repealed - Newsweek
they can't eliminate property tax without increasing something else to maintain revenue levels. property tax is fair because richer people tend to live in larger house(s). i'm comfortable with income tax as well, but the rich can often avoid it. i understand retirees sometimes have difficulty and have to sell, but that can be addressed in other ways
In Arizona there is a pending full exemption for 100% disabled Veterans. There are other sources of relief from various voter propositions passed in previous years including a property valuation freeze, a property tax deferral, and a property tax refund credit. Having recently paid off my mortgage I am now responsible for paying the property tax, so I'll be looking in to these programs. Agree with the need for local funding. The assessment also varies by state and with the ratio of public to private land ownership. Death and taxes...
Much of this funding is going to LOCAL schools, fire, LEO, emergency health care and community services, local parks and recreations. You know the mostly free community things that makes your local enjoyable. That money needs to come from someplace, so how would you feel about an increase in local sales taxes to offset the shortfall????? No-one likes paying taxes, but it's a necessary evil
That's why we have a progressive tax system in place. Look at Oregon's tax structure; they hit land owner particularly hard.
Ours works out to roughly $500 CDN per month. Infrastructure upkeep is sketch as it is, suspect it'd take a turn for the worse with the current tax system elimininated. Apparently you can "defer" payment, it goes on your tab, and the city takes a cut if/when you (or your descendants...) sell. I don't want to go there.
Expect all the D.O.G.E. cuts and the clawback Congressional approved assistance to the States and local governments to create shortfalls that will have to be made up with local taxes and the reduction of infrastructure improvements and services.
OK, lets cut out the contribution local property taxes make to the local governments. Now we have a hole in the budget. Two ways of filling that hole. Reduce services or increase other taxes. State your choice? And pick something that affects you and not someone else. Don't tax me, don't tax thee, tax the man behind the tree. The local taxpayer is already paying more in the base price for many things due to the tariffs. The sales taxes fall hardest on the lowest paid among us. The rich invest some/much of their income and while subject to state and federal tax, it doesn't get hit by the sales tax. The poor spend all of their income in ways that subject it to the sales tax. So explain how this isn't just another scheme to lower the taxes on the rich who have seen their property appreciate at the expense of those less fortunate or just starting out with no property.. (The property I was born into has appreciated ~300 times. My first house ~25 times.)
Mike - no one is implying we eliminate taxes - just change the way the tax is collected so people's homes aren't in immediate jeopardy if they can't come up with the money to pay the property tax bill. A home is most people's largest asset, and many own their own homes - should that asset be in jeopardy each year by being taxed each and every year? I don't know the answer but that is the core of the discussion in my opinion Here is a somewhat open-minded article on the subject: Should We Abolish Property Tax? Pros and Cons Explained - Accounting Insights "Pros of Property Tax Property tax provides a consistent revenue stream for local governments, funding essential public services such as education, infrastructure maintenance, and emergency services. Unlike sales or income taxes, which fluctuate with economic cycles, property tax revenue remains relatively stable because property values do not typically experience the same level of volatility as other economic indicators. For example, during economic downturns, while income and sales tax revenues may decline, property tax collections often provide a financial buffer for municipalities. Cons of Property Tax Property tax can impose financial strain on property owners, particularly those with fixed or limited incomes, such as retirees who may own valuable properties but lack liquid income to meet tax obligations. This pressure can force difficult decisions, such as downsizing homes or taking out reverse mortgages, and in extreme cases, may lead to foreclosure. The assessment process for property tax is often inconsistent and lacks transparency. Property values are determined through assessments that may not accurately reflect current market conditions, leading to disputes and appeals. The appeals process can be costly and time-consuming, requiring property owners to hire experts to contest valuations. Furthermore, the subjective nature of assessments can result in inequities, where similar properties are taxed at different rates due to discrepancies." The article goes on to make many other good points Here is one example of a state where it is mismanaging the Property Tax and causing burdens on the state's residents Ohio becomes property tax battleground "As property values have increased in Ohio over the last decade, the resulting property tax increases have strained many family budgets and challenged the financial security of many on fixed incomes," said DeWine. "Building upon previously expressed concerns and work done at many levels of government, I am forming this Property Tax Reform Working Group to issue concrete recommendations for meaningful property tax reforms that address the needs of property owners, are affordable to our state budget, and protect local schools and other services." But some residents fed up with waiting for lawmakers to fix the situation are taking matters into their hands. A grassroots movement to abolish property taxes in Ohio is growing increasingly frustrated with the state legislature. Whatever suggestions they make for reform, they say they will push forward with their attempt to put abolishing property taxes in the state on the ballot."
No offense, but this kinda sounds like how the whole "defund the police" movement started. Sounds to me like the real problem is the politicians and lawyers that needs to be voted or thrown out of office. That's the way our system is supposed to work. We passed Prop-13 several decades ago that limits property tax movements to 2%/year max for private primary homeowners - to keep the elderly from being eaten alive by their annual property tax bill. Business property has no such protections.
