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re: Trump Tax Initiatives - Timing

Posted on 1/19/25 at 10:51 pm to
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
37225 posts
Posted on 1/19/25 at 10:51 pm to
quote:

Good for you, must be nice.


There’s just no way yours didn’t go down or stay flat last year. It’s nearly impossible so you’re either lying or just have no clue what you’re talking about.

I’m guessing lying for some reason based on your earlier comments, or maybe you just live in the worst most ghetto house in Tarrant county
This post was edited on 1/19/25 at 10:52 pm
Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
40326 posts
Posted on 1/19/25 at 10:54 pm to
quote:

It is especially hard on those with fixed incomes.


Seniors can get their assessments frozen and get a larger HSE
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
37225 posts
Posted on 1/19/25 at 10:55 pm to
quote:

Seniors can get their assessments frozen and get a larger HSE


I bought my place from a senior. The property taxes the year I bought it were absurdly low. Like almost nothing
Posted by LSUSUPERSTAR
TX
Member since Jan 2005
16866 posts
Posted on 1/19/25 at 10:56 pm to
It was a new build, so yes it was assessed at that value.

What difference does assessed vs fmv make when I can't realize any gains? I'm still being taxed at a higher value than when I bought it. I just disagree with how taxes are being applied to people's primary residence.
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
37225 posts
Posted on 1/19/25 at 10:58 pm to
quote:

I just disagree with how taxes are being applied to people's primary residence.


With no basis other than “I don’t like it” while you continue to benefit from what the county provides for what you pay
Posted by LSUSUPERSTAR
TX
Member since Jan 2005
16866 posts
Posted on 1/19/25 at 11:00 pm to
I'm not at home but I guess I'll have to post receipts when i get a chance for the great Mingo to belive me.

I live in north Arlington close to Euless, definitely not a ghetto.
Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
40326 posts
Posted on 1/19/25 at 11:01 pm to
quote:

I'm still being taxed at a higher value than when I bought it.


Ok? Your house is worth at least 50% more than when you bought it and is assessed for way less than that.
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
37225 posts
Posted on 1/19/25 at 11:02 pm to
quote:

I live in north Arlington close to Euless, definitely not a ghetto.


Thank your property taxes for that
Posted by LSUSUPERSTAR
TX
Member since Jan 2005
16866 posts
Posted on 1/19/25 at 11:05 pm to
There is a basis since you never really own your home and the cost to own it goes up every year. Who cares what the county provides if they can eventually price you out of your residence. This isn't a hard concept to grasp. There are better ways to increase the tax base than relying on property taxes to increase every year to meet the budget needs.
Posted by LSUSUPERSTAR
TX
Member since Jan 2005
16866 posts
Posted on 1/19/25 at 11:07 pm to
quote:

Thank your property taxes for that


You mean the developer who planned and built the neighborhood. Property taxes didn't do that, private investment did.
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
37225 posts
Posted on 1/19/25 at 11:08 pm to
quote:

There are better ways to increase the tax base than relying on property taxes to increase every year to meet the budget needs.


Go on…
Posted by LSUSUPERSTAR
TX
Member since Jan 2005
16866 posts
Posted on 1/19/25 at 11:08 pm to
quote:

Ok? Your house is worth at least 50% more than when you bought it and is assessed for way less than that.


Not to be rude, but it is still worth what I paid until it sells again. Something is only with what someone is willing to pay for it. This is basic economics.
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
37225 posts
Posted on 1/19/25 at 11:13 pm to
quote:

Not to be rude, but it is still worth what I paid until it sells again. Something is only with what someone is willing to pay for it. This is basic economics.


Tax isn’t economics
Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
40326 posts
Posted on 1/19/25 at 11:21 pm to
quote:

Not to be rude, but it is still worth what I paid until it sells again.


Oh wow lol
Posted by Billy Blanks
Member since Dec 2021
4989 posts
Posted on 1/19/25 at 11:26 pm to
quote:

But we're still paying $8k a year in property taxes


Yeah, I pay 7k a year in Arkansas and pay 7% of my income to the state. I'd happily switch tax situations.

My rentals, are 3500-6k a year each.

Posted by Lsut81
Member since Jun 2005
83721 posts
Posted on 1/20/25 at 5:19 am to
quote:

He is the one that limited it to stick it to blue states


And just like the TikTok ban, he is flip flopping.


Sounds like it will be raised to 15 or 20k cap, form the current 10k. Meliantokis was on tv the other day saying they have discussed and it will be raised.
Posted by BHTiger
Charleston
Member since Dec 2017
8439 posts
Posted on 1/20/25 at 6:42 am to
quote:

Would bankrupt people. Property taxes are fine, you consume services as long as you own or inhabit a property.


Umm if you can't afford it don't buy it. Credit card living mentality.

A sales tax is the only thing that aamericans should have to pay. EVERYONE has skin in that. Citizen s would realize how much they are payoff the govt to take care of them. Even illegals would pay a price.
This post was edited on 1/20/25 at 6:44 am
Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
40326 posts
Posted on 1/20/25 at 8:16 am to
quote:

A sales tax is the only thing that aamericans should have to pay. EVERYONE has skin in that. Citizen s would realize how much they are payoff the govt to take care of them. Even illegals would pay a price.


Brain dead.


Everyone pays property tax too dumbass
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
37225 posts
Posted on 1/20/25 at 9:07 am to
quote:

A sales tax is the only thing that aamericans should have to pay. EVERYONE has skin in that. Citizen s would realize how much they are payoff the govt to take care of them. Even illegals would pay a price.


OT response on the money board. SAD!
Posted by Hammond Tiger Fan
Hammond
Member since Oct 2007
16409 posts
Posted on 1/20/25 at 2:49 pm to
quote:

In Louisiana I pay like 30k in taxes between property and income tax. I only paid 14k in property taxes in Texas.


You must be very wealthy and/or have quite a bit of assets in your possession. I'm comfortably considered to be upper middle class and I only pay about $9k between property and LA state income taxes.
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