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Message
re: “Renters don’t pay property taxes”
Posted on 6/28/26 at 5:26 pm to OU Guy
Posted on 6/28/26 at 5:26 pm to OU Guy
quote:
Owner sells and has equity and his note was mostly paid by renter. Harder to make break but mostly more profitable.
Not gonna look now, but there's a simple formula used to determine if it saves buying, or renting.
Something like value x 5%, then divide by 12. That figure = break even amount to rent or buy
Now I'm positive that's a basic general formula.
My friends dad had a company worth 150M. He "moved" to Texas by renting a condo and after 6 months, got a driver's license and his was an official resident. Although still had home in Lafayette.
You can do the math, but he made over 1M/yr, and then saved income tax, and had no property taxes etc....just his rent, which was written off (allegedly).
Just an example, but many reasons to rent or buy.
FYI, he sold a year or so later for 150M. Being a Texas resident via renting saved him too much for me to know
0
Posted on 6/28/26 at 5:28 pm to fightin tigers
quote:
You are doing great. But is is still first base in this world.
Just being born in the US puts you on second base.
Posted on 6/28/26 at 5:34 pm to Red Stick Tigress
quote:
what the market bares
Bears. Bare means naked.
Karmelo Anthony bears all of the responsibility for why he is sitting in prison in Huntsville, Texas.
Posted on 6/28/26 at 5:35 pm to Rouge
quote:
Karmelo Anthony bears all of the responsibility for why he is sitting in prison in Huntsville, Texas.
Posted on 6/28/26 at 5:36 pm to Rouge
Some bears are gonna be irresponsible with KAs bootyhole
it'll give his brain time to develop
it'll give his brain time to develop
Posted on 6/28/26 at 5:52 pm to Ramblin Wreck
quote:
For all the renters that have bought into the narrative that renting is better, landlords and big corporations that make lots of money off people willing to listen and believe them as they preach this, want to thank you from the bottom of their greedy hearts.
It’s not easy for entry level homebuyers to compete with established landlords for homes. I got out school in 2022 and started looking for a house. Didn’t have a job yet but was watching the market. More than half of the decent, affordable homes I saw were bought and put on the market as rentals. Then interest rates quadrupled, entry level housing prices nearly doubled, and that was the end. Still renting.
Posted on 6/28/26 at 5:56 pm to LSUFanHouston
quote:
value decreases, tax paid goes down
I have never seen an accessor determine value of a property went down. Not even in ‘08-‘09. That must be nice that you have seen it.
Posted on 6/28/26 at 5:57 pm to stout
quote:
Renters don't pay property taxes. They pay a market rate to rent a property. If the market rate declines due to a demand drop, they pay less in rent, but the owner's tax bill doesn't decrease.
Somebody finally gets it.
Posted on 6/28/26 at 5:58 pm to armytiger96
Does the market rate factor in the property tax?
Posted on 6/28/26 at 6:13 pm to fightin tigers
quote:
Does the market rate factor in the property tax?
Does it factor in property tax no; does it cover property tax- typically.
The market rate is dictated by supply and demand principles. The only thing that is factored into market rate is housing supply versus demand for your rental property.
Do investors use principles of cost accounting in evaluating their investment yes, but the cost of investment do not dictate market price.
Posted on 6/28/26 at 6:16 pm to stout
quote:
Much harder to sell a house and move, which is why many people feel renters should be excluded from voting on taxes and bills that affect actual owners
And those people are idiots
Posted on 6/28/26 at 6:20 pm to JohnnyKilroy
quote:
Most fair tax on the planet.
Is sales tax and other consumption taxes.
Posted on 6/28/26 at 6:25 pm to armytiger96
Imagine paying 225% tax on everything.
To give an idea, each person would have to pay around 10k in sales tax each year.
So someone making 30K would have to pay 33% of their income is one way to look at it.
Another way is that at the current rate you need to buy about 120K worth of stuff at retail. Well, you dont. Meaning you need to pay 10K worth of taxes on what you do buy. So about 70% sales on the average household.
To give an idea, each person would have to pay around 10k in sales tax each year.
So someone making 30K would have to pay 33% of their income is one way to look at it.
Another way is that at the current rate you need to buy about 120K worth of stuff at retail. Well, you dont. Meaning you need to pay 10K worth of taxes on what you do buy. So about 70% sales on the average household.
This post was edited on 6/28/26 at 6:33 pm
Posted on 6/28/26 at 6:26 pm to armytiger96
quote:
Is sales tax and other consumption taxes.
Punishes productivity and is the most regressive. No thank you.
Posted on 6/28/26 at 6:34 pm to JohnnyKilroy
quote:
Punishes productivity and is the most regressive. No thank you.
It also rewards savings . . . The progressive income tax system also punishes productivity as well as savings (non retirement accounts).
With a sales tax everyone, to include those working on a cash basis, pays in as they buy products.
Posted on 6/28/26 at 6:36 pm to armytiger96
quote:
With a sales tax everyone, to include those working on a cash basis, pays in as they buy products.
Unless I buy with cash.
Which is why it doesnt work.
This post was edited on 6/28/26 at 6:43 pm
Posted on 6/28/26 at 6:47 pm to fightin tigers
quote:
Unless I buy with cash. Which is why is doesn't work.
If you buy with cash at a bonafide store or restaurant then paying sales tax. If you buy of facebook market place then maybe so, but realistically what percentage of your transaction are on the "black" market.
This is no different than an entire segment of society that currently works on a cash basis.
There will always be ways to "game" the system. All I'm saying is of the three main taxes we pay today income, property, and sales. The sales tax is the most fair tax because it is basically a "flat" tax on consumption.
Posted on 6/28/26 at 6:50 pm to armytiger96
quote:
This is no different than an entire segment of society that currently works on a cash basis.
So your thought is that a portion of the economy will go straight and not that they will just adapt and pay cash like they have always done.
Curios if you have any experience with small business.
I currently file a W2 and pay cash for all sorts of shite. Can't imagine how shady I would get if you started taxing me 10x.as much.
Nah brah, Im buying every ingredient under the table that I can. 70% savings.
This post was edited on 6/28/26 at 6:51 pm
Posted on 6/28/26 at 7:05 pm to stout
quote:
Most property tax increases are on 10-year terms. So you admit you are not going to be in an area for more than a few years, but feel justified in sticking people with a 10-year burden?
Unless it’s a completely incompetent landlord, property taxes are included in monthly rent. Never lived anywhere where when property taxes go up, I haven’t gotten an increase in rent when the lease comes up.
As some else said, I agree that a sanity test should be done first for ALL voters before being allowed to vote, but to say renters shouldnt have a say is just asinine.
Posted on 6/28/26 at 7:08 pm to rowbear1922
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