176
‘My Property Tax Went From $15K to a Life-Altering $91K a Year’
(www.yahoo.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 15 May 2025
176 points (85.2% liked)
A Boring Dystopia
12320 readers
305 users here now
Pictures, Videos, Articles showing just how boring it is to live in a dystopic society, or with signs of a dystopic society.
Rules (Subject to Change)
--Be a Decent Human Being
--Posting news articles: include the source name and exact title from article in your post title
--If a picture is just a screenshot of an article, link the article
--If a video's content isn't clear from title, write a short summary so people know what it's about.
--Posts must have something to do with the topic
--Zero tolerance for Racism/Sexism/Ableism/etc.
--No NSFW content
--Abide by the rules of lemmy.world
founded 2 years ago
MODERATORS
Boomer logic ..... "I want all the benefits, entitlements and supports of society and none of the responsibilities."
Can you imagine the pain of having to pay fairly for what you own... Disgusting.
I mean, bullshit strategies and apparent entitled attitude aside, she does have a point. $90k is an absurd property tax rate for a single family home.
Did you see the photo in the article? It's a 'single-family home' in the way a Mercedes SUV is a minivan.
I mean, yah, housing is way too fuckimg expensive. But that is very definitely not a no-frills family home.
The house is valued at $4.4 millions.
If it costs $90k for a $4 million home then a $1 million home would be taxed at $22.5k. That's still half a years salary at median wages for an average priced home in many markets. Don't let your hatred for rich people lead you to advocating for shitty policies.
I'm going with this is the actual problem.
Also, your math assumes a flat tax rate, and any decent tax system is progressive. I don't know how Florida's works, but again, actual problems.
Inflated home values are a huge part of the problem. That's a large part of the point I'm making. At face value it seems fine to say "they have a $4 million home, they can afford the property taxes" but if you apply the same rate to the homes that average people have to buy you're going to end up in a shitty spot. If taxing the rich is the goal we shouldn't be talking about property taxes on single family homes unless it's specifically related to second and third homes.
And that's why you don't do that and instead make progressive taxation a thing.
Nah. It is good and correct to tax extremely large/valuable single-family homes at high rates even if they're primary residences.
(Of course, another aspect of the issue is that single-family houses in very high-demand areas should lose their zoning protection so they can be bought out and replaced with multifamily buildings. Reasonably-sized single-family houses should never have gotten to unaffordable valuations in the first place.)
So is a single family home worth 4mil
Alright, so you're a young gen z family and you buy your first home, which is all you can afford right now, you're young and you're starting your careers and your family.
In 10 years, property values have increased dramatically, and you've had a child and you're thinking about your second. Your careers are going well, and you think we should maybe get a bigger place for our expanding family. But oh no, there's an unsustainable housing marketing bubble that refuses to burst, so you can't afford a bigger place anywhere near your job. So you build UP, like they do in every multi-generational home culture, you expand your living space as your family expands.
It's not a crime or a moral failure to upgrade your home, and you shouldn't jump at the opportunity to beat someone when they're down just because you don't empathize with this particular boomer homeowner.
This Boomer homeowner is why those Gen Z families can't find homes. If your single family home is worth $4 million, that is the market telling you that that single family home should not exist. The land is too in demand, too close to jobs, too close to amenities etc. to have that lot hoarded by a single selfish person. You want to live in a single family home on a quarter acre lot? Fine. Do it on the edge of the city where the land is cheap. This women's lost could provide homes for a dozen families, at prices that would be affordable to Gen Z families. Instead people like her vote to prevent such redevelopment.
Are you okay?
Right, an unsustainable bubble, I said that. This boomer family bought a reasonably sized and priced house that's on the edge of the city, and now they're forced to sell it and not be able to replace it with a bigger home on their budget in the same part of town, they didn't fuck things up Zillow did!
The gen z family who buys today won't be about to upsize tomorrow, and you're gonna blame them.
The fuck-up was by the city, which failed to abolish the single-family zoning in order to allow the land to be developed to its highest and best use.
Based on the backstory, they kind of did what you said, bought it in a relatively more affordable context, and then the world changed their minds around them and retroactively declared it a multi million dollar property. Well at least for tax purposes and likely insurance, but not necessarily market rate (tax assessments commonly lag the market, so a market downturn could leave them with a multi-million dollar house that no one will pay the stated value for
More like the house is likely worth even more than the $4.4M it was assessed at. But nice try trying to spin your point to fit your narrative.