(CNSNews.com) – Americans paid a record $540,701,000,000 in property taxes to state and local governments in fiscal 2016, according to the U.S. Census Bureau.
That was up $16,748,620,000—or about 3.2 percent–from $523,952,380,000 in property taxes (in constant 2016 dollars) that state and local governments collected in fiscal 2015.
The prior national record for property taxes was set in fiscal 2009, when they hit $527,850,500,000 in constant 2016 dollars. Fiscal 2016’s record total of $540,701,000,000 was up $12,850,000,000—or about 2.4 percent—from that previous record. MORE
And the taxman always wants more, he is never satisfied!
…while public schools (recipient of funding via property taxes) continue turning out dunces. Good teachers get paid crap, schools can’t get rid of the bad ones, and are forced to teach “test-taking” instead of the three R’s.
So really, you NEVER actually own your house/property. It’s the bank and then the state.
How much of that is given out in credits?
Buy a luxury Tesla Model X base model for $85,500.
Pay 8% tax or $6840
$6840 – $7500 tax credit = -$660 + $85,500 = $84,840 is the final total cost,
even though the government took in $6840 and gave out $7500, for a net loss. The $660 is credited against other tax or carried forward to next year.
As a tax payer, I love nothing more than paying the tax for other people’s luxury cars. It makes me feel accomplished and worthy.
Funny how that car tax credit is only on cars that wealthy people can afford.
Appropriately today I received my 2017 appraisals from Harris county Appraisal district (Houston). My taxes have gone up 61% in the last five years, as per the HCAD. Apparently I will have to sell my rental properties as they are no longer financially viable as a source of income for me. Instead they have become a source of income for the school district, Harris county, Harris county Flood control, Port of Houston, Harris county hospital district, Harris county education district,
Harris county emergency services and last, but certainly not least, the local municipal water district. This is getting ridiculous.
Nah, you can get a Nissan Leaf with the same $7500 tax credit. It’s based on how big the battery is. But, yes, a lot of them are luxury cars including Porsche BMW Mercedes Audi.
It sucks to be asphyxiated and swallowed by a giant snake.
Wut? Wrong thread you say?
I don’t think so.
How about this… You buy a house for $90,000, but the tax assessor says it should be worth 110,000, and taxes your house on that.
Even when the housing market was flooded with repo houses and you couldn’t find anyone to buy your de-valued home, property taxes rose.
Property taxes; paying the county to live in your own home.
What’s the statistics on the number of senior citizens on fixed incomes losing their homes because of property taxes?
And not a dime for it was paid by illegal aliens and I’m sure less than 5% by legal immigrants. We’re getting screwed.