3 ms·
It's worth noting many states have a "homestead exemption" or similar that provides a significant tax break to the house you actually live in. It doesn't go qui
by Volundr 4y ago
It's worth noting many states have a "homestead exemption" or similar that provides a significant tax break to the house you actually live in. It doesn't go quite as far as you want, but it does mean that all the entities you list already pay more in property taxes than an actual homeowner on the same property.
- pwinnski 4y agoIt doesn't go nearly as far is it should, indeed, and at least in Texas, you can't claim the homestead exemption the first year you own a property. So I bought a house from someone who had been claiming the homestead exemption and also a senior discount. I immediately filed for the homestead exemption as well, but that doesn't take effect until the second year you own the house. So the property take history looks like: very low, very low, very high, somewhat low, somewhat low. That rule about paying the full amount on year one is... odd.
- hnhegde 4y agoBeginning Jan 1st 2022, a homeowner can apply for HS exemption the same year and if authorized, can get a pro-rated exemption for the rest of the year, if the preivous owner hasn't already claimed it. Ref: SB 8/2021. Bettencourt. https://capitol.texas.gov/tlodocs/872/billtext/html/SB00008I.htm https://capitol.texas.gov/tlodocs/872/billtext/html/SB00008I...
- pwinnski 4y agoGreat news, just a couple of years too late to help me.
- causi 4y agoYeah, the problem is amount. Owning more than you can use should be highly discouraged. Imagine if you declared ownership of a chunk of the sky or the ocean.
- Cerium 4y agoCalifornia has a nearly useless homestead exemption of 7000 dollars off the assessed value[1]. [1]https://www.boe.ca.gov/proptaxes/homeowners_exemption.htm https://www.boe.ca.gov/proptaxes/homeowners_exemption.htm
- hnhegde 4y agoBut CA has prop 13!