We are still an income producing family, nearing retirement (would have been there years ago if we had been in one of the taxpayer-funded salaried professions instead of private sector) and though we could probably pay off whatās left of our mortgage today, and though our income is pretty good, the possibility that we will not be able to live in our home as retirees is a very real one. We live in NJ and our prop. taxes are around $12,000/yr - and thatās not the highest in NJ, not by a long shot.
The upside is that because of the location of our property, it has increased in value considerably - every week I get pitches from local realtors who would like me to think about downsizing, even letters saying they have a client who would be willing to make a cash offer for my house.
I guess thatās what what DS means by a āfirst world problem.ā
Two significantly different points of view of those two individuals.
One pitches a particular brand of originalistic Constitutional interpretation, while the other pitches at least a partial anarcho-capitalistic viewpoint.
You never own your home. You can always have it taken away fro you. Get an RV and live in it, if you want the security of a place to live forever, and even then you have to have someplace to park it.
Iām in NJ too. My property taxes are $10,000 per year. NJ on average has the highest property taxes in the nation at about $8,000 per year. A friend of mine just recently retired and moved to Delaware. His property taxes are now under $1,200 per year. Many of the other costs of living are less as well.
Good lord, thatās gotta be vicious for retired folks on fixed incomes.
It pains me no end that retirees can be forced out of their homes.
In WA my property taxes are about $3500 on my $300,000 home (which is quite modest for the Seattle area.
They get us with a 10% sales tax and one of the highest gas taxes in the country.
Every few years they try again to propose an income tax and promise to offset by reducing sales and other taxes.
It always gets voted down because we know theyāre lying.
Itās odd cause even here in liberal land Seattle the property tax isnāt as severe. Although they get us by jacking property values up each year. I thought about trashing the front of my house this year right before the sheriff comes around to evaluate property.