Supra property tax outta control.

[MisterSkiz]

Tries to laugh in WI but mouth is full of beer & bratwurst

I started to look over the border at new home builds - the prices went up like crazy even before Covid due to the tax savings from IL.

Sponsored

 

[decodeddiesel]

What are registration fees like? Are they low like 50 dollars or is it like 800 or something like that?

Several hundred dollars on top of that. Mind you my house property tax bill is completely separate from my vehicle property tax. I pay well over $10,000/year on my house.

 

[MYA90SUPRA]

Several hundred dollars on top of that. Mind you my house property tax bill is completely separate from my vehicle property tax. I pay well over $10,000/year on my house.

That is crazy.

 

[razorlab]

Several hundred dollars on top of that. Mind you my house property tax bill is completely separate from my vehicle property tax. I pay well over $10,000/year on my house.

That's why only rich people live in CT.

 

[KKP_Jay Phantom]

Jesus fuck, I thought NJ and CA were the worst with property tax. My home property tax, for a 2900sqft home plus 640sqft garage is just around $6k/yr. I'm 45 minutes from philly in rush-hour traffic.

 

[FLtrackdays]

I’m sure those tax dollars are being put to good use ?

 

[Joker328]

Move out of these garbage states. Problem solved ??

LOL at people from New York thinking taxes in other states are outrageous.

 

[decodeddiesel]

I’m sure those tax dollars are being put to good use ?

?

 

[Mr. Jonathan]

Well all just better pray this type of tax stays at the state/local level. If the federal government implements this type of property/asset tax we are all hosed. And yes they are trying to do it based on Haig–Simons. Haig-Simons income is an income measure used by public finance economists to analyze economic well-being which defines income as consumption plus change in net worth. It is represented by the mathematical formula: I = C + ΔNW where C = consumption and ΔNW = change in net worth. In other words you get tax on annual income plus any asset you have that might have value annually (gold, art, collectibles, etc…) the kicker is the gov decides what your stuff is worth so imagine if the powers that be need tax revenue for large social program. All the sudden your assets will be worth a lot more and you get a fat bill.

 

[decodeddiesel]

LOL at people from New York thinking taxes in other states are outrageous.

Let me tell you about a quaint little state in New England called Connecticut.

 

[decodeddiesel]

Move out of these garbage states. Problem solved ??

Once my kids are finished with HS I'm out. Sucks because I absolutely love my house and my property, but it's just not worth it in the long run.

 

[razorlab]

Well all just better pray this type of tax stays at the state/local level. If the federal government implements this type of property/asset tax we are all hosed. And yes they are trying to do it based on Haig–Simons. Haig-Simons income is an income measure used by public finance economists to analyze economic well-being which defines income as consumption plus change in net worth. It is represented by the mathematical formula: I = C + ΔNW where C = consumption and ΔNW = change in net worth. In other words you get tax on annual income plus any asset you have that might have value annually (gold, art, collectibles, etc…) the kicker is the gov decides what your stuff is worth so imagine if the powers that be need tax revenue for large social program. All the sudden your assets will be worth a lot more and you get a fat bill.

Nice wiki copy-pasta.

Will they tax your tin foil hat too?

 

[zrk]

we are all hosed

Presumptuous, and I think we have different definitions of 'hosed.'

 

[M4-NYC]

LOL at people from New York thinking taxes in other states are outrageous.

Taxes are crazy here, yes. $14k/year for my home.

BUT, to tax your car on a yearly basis seems even crazier to me.

 

[decodeddiesel]

Taxes are crazy here, yes. $14k/year for my home.

BUT, to tax your car on a yearly basis seems even crazier to me.

No argument from me. I had been living in Colorado for 12 years in an "unincorporated" part of Jefferson County on the outer edge of the Denver Metro Area. I moved back to CT and nearly had a fucking brain aneurism when I got my first tax bill.

Sponsored