5 ms·

Why so? You don't see that gain unless you sell, at which point you'll probably buy another house that has also risen 10x.

• cronix 5y ago
  In a lot of places, if not most, property taxes are based on the assessed "current market value" of your house and audited annually, which can change a lot from year to year. Property taxes are paid annually, not when the house sells. If the house goes up 10x in a year, the property tax also rises which makes it very hard on a fixed income when you're retired, especially when the gov't artificially calculates inflation at a lower rate so they don't have to pay as much in social security benefits to those seniors reducing their purchasing power over time.
  • JAlexoid 5y ago
    Property taxes are supposed to cover your local government's running services - police, fire brigade, trash/sanitation, water and roads. Properly distributed, they should not be high. Property taxes are not a slush fund for the government, nor should they be deferrable. They are intended to be running expenses.
    • nathanaldensr 5y ago
      And the fact property taxes are often used as a slush fund makes those of us paying attention very sensitive to their increase. With those taxes comes bureaucratic power and control, often leading to more taxes and less of a say over how one lives one's life.