2 ms·
Exactly.. because it's taken monthly into escrow. The fact is, I'm paying close to 30% more than a few years ago and it's entirely because of property taxes.
by tracker1 2y ago
Exactly.. because it's taken monthly into escrow. The fact is, I'm paying close to 30% more than a few years ago and it's entirely because of property taxes.
Nobody should have property removed simply for living another year.
edit: property taxes are actually up about 400% over when I bought my home 6 years ago. They property evaluation is now close to market value, where it was much lower/less and historically had been. It's been a money grab. It's also been particularly hard on retired home owners.
- heelix 2y agoOur property taxes increased a crazy amount as well. Went from a 3'ish percent increase to up 25%, and then again another 14%. Pushing back on the assessment did nothing.
- Sohcahtoa82 2y agoMore states need to do what Oregon did and limit how quickly the assessed value of your house can increase for property tax purposes. I bought my house in 2015 for $340K, it's estimated to be worth $550-600K now, but my property tax is on only $275K in value. Each year, that value goes up 3%. It was taxed based on a ~$210K value when I bought it.
- riku_iki 2y agois it fair that you pay much smaller taxes compared to fresh buyer?
- Sohcahtoa82 2y agoMaybe not. In this case though, "new buyer" will only refer to new construction. A buyer of an existing house keeps the assessed value. It doesn't jump.
- riku_iki 2y agonew buyer of existing house will have tax reassessed base on transaction (current market price)
- Sohcahtoa82 2y agoNot in Oregon.
- riku_iki 2y agoits just mean that new home buyers pay taxes for rest of the people. If the goal is to solve housing by building more homes, this is very wrong direction.