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One way to solve the issue of people being taxed out of their property would be to give the option to put a lien on the property if they’re earning less than a
by strongpigeon 4y ago
One way to solve the issue of people being taxed out of their property would be to give the option to put a lien on the property if they’re earning less than a certain income (or over a certain age). This way, the owner gets to stay in their home, but the city is (eventually) getting the taxes it’s owed.
I haven’t fully thought through all the incentives it brings though. However, it seems like a better solution than telling people to reverse mortgage their houses. Especially given how predatory that industry seems to be.
- doktorhladnjak 4y agoThis sort of approach exists in several states https://dor.wa.gov/sites/default/files/2022-02/PTDeferral_SeniorsDisabilities.pdf?uid=62ac9fd331bea https://dor.wa.gov/sites/default/files/2022-02/PTDeferral_Se...
- strongpigeon 4y agoInteresting. Thanks for sharing.