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Good except for retired folks with less income or investment income. Perhaps just make a homestead exemption.
by mrfusion 6y ago
Good except for retired folks with less income or investment income. Perhaps just make a homestead exemption.
- cortesoft 6y agoWe kind of have that... property taxes are deductible from your federal taxes if the home is your primary residence... although they put a cap on the amount a few years ago, and it isn't nearly as valuable anymore.
- ska 6y agoYou can make a homestead exemption. You can also make property taxes lien-able on sale or transfer of the home, which makes some sense in areas where property values are rising quickly. If you are fixed or low income and care more about having a place to live than making money on the property, that works too.