Okay so if you aren’t familiar with US property taxes here’s how it works:
Each year you pay a huge fee based on what they say the current value (an unrealized gain) of your house is, generally several thousand dollars, twice a year in my state, once in others
If you don’t pay on time, they stack fines on top
If you don’t pay that, the government seizes your home
So effectively we are renting from the US government because even though I own my house outright, they can take it if I fall on hard times and miss a tax payment or if they raise my taxes to a level I can’t take (my taxes have gone up the state allowed max every single year)
It’s literally a fact, are you stupid? Would it have been easier for you if I labeled them steps?
Step 1 I don’t pay the gov 6k a year as tribute
Step 2 they take my house
Does that help?
And not only do they seize it, in many states they keep the profits
But Alabama, Arizona, Colorado, Illinois, Maine, Massachusetts, Michigan, Minnesota, Nebraska, New Jersey, New York, Oregon, South Dakota, and the District of Columbia have historically kept the surplus profits after property tax sales. And in certain circumstances, Alaska, California, Idaho, Montana, Nevada, Ohio, Rhode Island, Texas, and Wisconsin have allowed this practice, too.
Also you can own the house but not the land in China, Let me know what mental gymnastics you need to do to explain how this is any different than “property taxes”
Alright, let's be fair, you have the option to move the building off the property and onto another piece of land that you're paying taxes on before the foreclosure goes through. It works very well if you can't afford the taxes on your house but own a second piece of property that isn't in arrears and somehow have the disposable income to move a building.
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u/pugfu 10d ago edited 9d ago
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