Constant maintenance, taxes steadily going up year after year. The cost of maintaining rises with inflation. If there was a better alternative I would take it.

I paid my house of about 10 years ago. Since I may retire in this house, in the last few years I have started to fix it up. New whole house generator, new roof and this year new HVAC system. 1600 square foot house and it will be over 14k for new gas heater and a/c along with new (flexible) duct work.

I still need to add insulation to the attic, remodel my master bath and paint the entire house. After that there will only be minor things left to do.

I guess I never really own my home since if I miss enough tax payments somebody else will buy it for what I owe.

I really think that at a certain age (no later than 65) people should be totally exempt from taxes on their primary residence and property. Instead it goes up every year and never stops. In Texas, a portion of the taxes freeze at 65 but you still have to pay taxes.

quote:

Originally posted by mrvmax:

After that there will only be minor things left to do.

This brings back many memories. As I moved closer to retirement, I can remember the same thought process. New roof, new paint, new appliances, new heating system. The problem is I didn't die yet. My roof is shedding granules more and more each day. I need to paint again. My fridge is making weird noises, and my washing machine is missing a few gear teeth, so it gets stuck in spin mode at times. Oil tank got a warning notice and needs to be replaced.

But its mine (until the next tax bill) and it certainly beats senior living.

quote:

In Texas, a portion of the taxes freeze at 65 but you still have to pay taxes.

It depends on what state you live in. Tennessee has a local option freeze. In most counties the limit is $61920 for 2025. In Nashville if your income is less than $37530 rebates of property taxes from the state and Nashville decrease the taxes to just a few hundred dollars. My sister lives in Cobb county GA and her property taxes are reduced by the amount going to public schools.

One of my pet peeves and something I've been an advocate of for years. No one and particularly a senior citizen, should have to pay what I call an "existence tax" or what others call a "property tax". It is immoral and unconscionable. One should not be taxed for living on a piece of land unless they are operating a business or somehow earning money off of that piece of land. Of course every time I bring this up I'm mocked or ridiculed for being out of my mind. "How will the government fund road construction, fund education, pay for police or fire protection" I'm asked. There are other means of obtaining money for the government to operate on. Pick one. Or two. Or as many as you want. Tax my car, my appliances, raise the personal income tax rate are some examples. I understand that at the end of the day your total expenditures spent on taxes may be the same or even more without a property tax but at least the government will not be able to seize my home or the land it sits on. Want to take my car, my refrigerator, sue me in civil court for not paying those taxes, have at it. Here's a scenario to think about. You are a young man. One day you meet the woman of your dreams and marry her. You have a few children and life is good. Eventually the kids move out and now it's just you and the spouse. But now both of you are old. Life is good. Or so you thought. But now the economy takes a downturn, your pension fund collapses, your retirement money is gone whatever. Sad but at least you have a place to live, a roof over your head. Now it's either pay the property tax and starve or don't pay it and survive. Until the government comes and seizes your home for failure to pay the property tax. No government should have the ability to do that. Find another way to fund government other than on the backs of senior citizens.

Renting an apartment here is at least $1,400/mo. Multiple by 10 and you get $00.00 at the end.

quote:

Originally posted by mr kablammo:
Renting an apartment here is at least $1,400/mo. Multiple by 10 and you get $00.00 at the end.

It would be regular rent increases but I can't deal with people so close to me. Even considering never having to pay for repairs and upkeep.

quote:

I guess I never really own my home since if I miss enough tax payments somebody else will buy it for what I owe.

I really think that at a certain age (no later than 65) people should be totally exempt from taxes on their primary residence and property. Instead it goes up every year and never stops. In Texas, a portion of the taxes freeze at 65 but you still have to pay taxes.

Real estate taxes have become a HUGE problem for many people, and for the country. There are many dimensions to this problem including inflated valuations from reassessments, lack of "settling down" and family formation among younger people, easy enactment of school district tax increases, etc.
We are pricing people out of their homes.

Property taxes are unjust, IMO. If your property can be taken away from you for getting behind on or failing to pay them, then you don't own the property, do you? Not only that, the jurisdiction gets a windfall several times the amount owed from the sale. If anybody returned the excess to the former owner, I haven't heard of it.

With that being said, California, of all places, is one of the few states to make it a little more fair, with the 1978 Prop. 13. (CA then was not as nutty as it is now.) It puts a cap on the amount of increase so the jurisdiction can't just make up any old thing and expect you to pay it, or else. But it only applies to the current owner. Anyone buying the property is going to be hit with the higher rate.

quote:

Originally posted by chellim1:
Real estate taxes have become a HUGE problem for many people, and for the country.

Yes, people like to bitch and moan in Texas, and rightfully so, because it is happening everywhere, every state, all due to rising home values (which in itself is good), and unrealized capital gains taxes, which is shitty, unfair, and IMO corrupt. Taxing citizens on perceived value is a completely fucked up con job by government.

quote:

Originally posted by mrvmax:
1600 square foot house and it will be over 14k for new gas heater and a/c along with new (flexible) duct work.

My house is similarly sized. We had to replace our evap when it sprung a leak [in the summer of course], and they mentioned replacing the oversized ducting. I forget the number but it was a shocking price for the work. $14k wouldn't have come close to being enough, for the work you mention. But we supposedly have a very high end system
Put in by the commercial contractor prior owners. Works great, but $$$ when it needs attention.

quote:

Originally posted by mrvmax:
It would be regular rent increases but I can't deal with people so close to me. Even considering never having to pay for repairs and upkeep.

The renter always pays for repairs, taxes, and insurance. Being a landlord is not a charitable enterprise. All costs and generally some profit is borne by the tenant.

While I would be happy if property taxes went away, local services do need to be paid for somehow. However, property taxes should be locked in at the point of sale and not increase until you sell your home. The new owners then pay the new rate. This increasing it every year or two based on some subjective assessment is criminal. You don’t own your home, you just rent it from the county.

quote:

Originally posted by oddball:
Yes, people like to bitch and moan in Texas, and rightfully so, because it is happening everywhere, every state, all due to rising home values (which in itself is good), and unrealized capital gains taxes, which is shitty, unfair, and IMO corrupt. Taxing citizens on perceived value is a completely fucked up con job by government.

I would argue that the rising property values everywhere are *NOT* a good thing, as they are primarily a reflection of inflation. This is a result of the government destroying the value of the dollar and is an invisible tax.

^^^^^^^^^^^^
Houses are no different than cars, guns, watches, etc in rising prices throughout the years. Would I want my house to stay stagnant in value for years, decades? Nope. A house or commercial property is an investment, and I would want that investment to show some rise in value throughout time. To want stagnation is just plain silly.

I've never understood why the value of one's home (or other property) is the basis for the taxes they pay. What difference does it make if you live in a $1M home or a $100k home? Does the guy in the $1M home use 10 times the police/fire/ambulance services as the $100K guy? I suspect it's actually the opposite.

Government is always growing out of control. They don't just want the additional dollars they get each year through rising values, but also want higher percentages of that value. Every election cycle you see more entities asking for more money, but rarely do you hear of anybody cutting back and getting by with less. The government continues to expand while your ability to live your life is reduced. It has to stop. When is enough enough? When they get 110% of everything you earn or own?

quote:

Originally posted by slosig:

quote:

Originally posted by oddball:
Yes, people like to bitch and moan in Texas, and rightfully so, because it is happening everywhere, every state, all due to rising home values (which in itself is good), and unrealized capital gains taxes, which is shitty, unfair, and IMO corrupt. Taxing citizens on perceived value is a completely fucked up con job by government.

I would argue that the rising property values everywhere are *NOT* a good thing, as they are primarily a reflection of inflation. This is a result of the government destroying the value of the dollar and is an invisible tax.

Yes, I agree. My house isn't worth more to me as a place to live. It's worth the same.
Everything is more expensive because the dollar is worth less over time.

quote:

Originally posted by oddball:
^^^^^^^^^^^^
Houses are no different than cars, guns, watches, etc in rising prices throughout the years. Would I want my house to stay stagnant in value for years, decades? Nope. A house or commercial property is an investment, and I would want that investment to show some rise in value throughout time. To want stagnation is just plain silly.

I don't expect prices to rise for cars, guns, watches, etc. throughout the years. Why should they? Sure, if they are rare collector's items.
It's dollar devaluation, not that my guns have become more valuable over time.

I am with Oddball.
Paying taxes on unrealized capital gains is insane and immoral.

I ended up buying the condo I currently reside in and it has ended up working out very well for my lifestyle.

I still have to pay taxes, but everything studs out is taken care of for me. Replaced the HVAC last winter and will probably get a new fridge at some point.

I'm amazed at how much free time I have not needing to take care of yard work and exterior home maintenance.

Cheers~

We retired in 2014, and seems like our list of things that need doing or attention, never get any shorter. Owning a home can be an endless money pit