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High property taxes are good

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Re: High property taxes are good

#21

Post by et-al »

vanilla_nut wrote: post #2

In my region of northern New Hampshire, there are a lot of retired folks with houses rising from $200k-ish values to closer to $500k-ish values in the last 5-10 years. As such, there's a lot of discussion around lowering property taxes to help these retirees. In my opinion? Fuck 'em. Property taxes are a brilliant method of perfectly progressive taxation: you can always choose to live in a cheaper home. If your home…

Who would want to settle down in an area that is trying to churn you out though?

Sure, the "fuck 'em" attitude has been used by NIMBYs forever. But now we're using it to deprioritise the existing residents that might've sculpted the community. E.g. "Artists who can't the 200% rent increase? Fuck 'em."

Most folks like some sense of stability with their housing. Not everyone's a 20 y/o digital nomad.

Re: High property taxes are good

#22

Post by flyingfences »

vanilla_nut wrote: post #2

In my region of northern New Hampshire, there are a lot of retired folks with houses rising from $200k-ish values to closer to $500k-ish values in the last 5-10 years. As such, there's a lot of discussion around lowering property taxes to help these retirees. In my opinion? Fuck 'em. Property taxes are a brilliant method of perfectly progressive taxation: you can always choose to live in a cheaper home. If your home…

> you can always choose to live in a cheaper home

I'm not sure if you've looked around northern New England recently, but there are practically no cheaper homes left.

Re: High property taxes are good

#23

Post by dangerlibrary »

gedy wrote: post #7
vanilla_nut wrote: post #2

In my region of northern New Hampshire, there are a lot of retired folks with houses rising from $200k-ish values to closer to $500k-ish values in the last 5-10 years. As such, there's a lot of discussion around lowering property taxes to help these retirees. In my opinion? Fuck 'em. Property taxes are a brilliant method of perfectly progressive taxation: you can always choose to live in a cheaper home. If your home…

> Those of us who can't afford property will shed no tears. You seem to believe the fallacy that not being able to afford a home is other homeowners fault, and not due to poor government planning (likely by the same politicians you willingly vote for.)

One can very convincingly make the argument that state and national governments are undemocratic and difficult for individuals or local groups to influence. But on the scale of a county, small town, or city government, that's less the case. Individual voters who have repeatedly NIMBY voted against densification have absolutely caused their own home values to inflate.

Re: High property taxes are good

#24

Post by throwaway9980 »

vanilla_nut wrote: post #2

In my region of northern New Hampshire, there are a lot of retired folks with houses rising from $200k-ish values to closer to $500k-ish values in the last 5-10 years. As such, there's a lot of discussion around lowering property taxes to help these retirees. In my opinion? Fuck 'em. Property taxes are a brilliant method of perfectly progressive taxation: you can always choose to live in a cheaper home. If your home…

> Fuck 'em. Progressive taxation.

At least you’re honest about how you want to wield the cudgel.

Re: High property taxes are good

#25

Post by stephencanon »

vanilla_nut wrote: post #2

In my region of northern New Hampshire, there are a lot of retired folks with houses rising from $200k-ish values to closer to $500k-ish values in the last 5-10 years. As such, there's a lot of discussion around lowering property taxes to help these retirees. In my opinion? Fuck 'em. Property taxes are a brilliant method of perfectly progressive taxation: you can always choose to live in a cheaper home. If your home…

Over here in Hanover they've gone from $500k up to $1M, and honestly the 2% tax rate is the only thing that kept prices somewhat in check in the presence of near-zero interest rates.

Re: High property taxes are good

#26

Post by woofyman »

vanilla_nut wrote: post #2

In my region of northern New Hampshire, there are a lot of retired folks with houses rising from $200k-ish values to closer to $500k-ish values in the last 5-10 years. As such, there's a lot of discussion around lowering property taxes to help these retirees. In my opinion? Fuck 'em. Property taxes are a brilliant method of perfectly progressive taxation: you can always choose to live in a cheaper home. If your home…

//Those of us who can't afford property will shed no tears.

Move somewhere cheaper.

Re: High property taxes are good

#27

Post by btilly »

And, thanks to Proposition 13, California has entirely removed this policy tool from consumer housing.

A tremendous amount of our problems, from high rent to gridlock, can be traced back to this decision.

Re: High property taxes are good

#28

Post by Workaccount2 »

jherskovic wrote: post #15
vanilla_nut wrote: post #2

In my region of northern New Hampshire, there are a lot of retired folks with houses rising from $200k-ish values to closer to $500k-ish values in the last 5-10 years. As such, there's a lot of discussion around lowering property taxes to help these retirees. In my opinion? Fuck 'em. Property taxes are a brilliant method of perfectly progressive taxation: you can always choose to live in a cheaper home. If your home…

If there was a supply of cheaper housing, I'd agree with this wholeheartedly. Part of the problem is that, in a lot of places (SF, NYC, Seattle, etc) you can price folks into homelessness. Sure, no one is entitled to live in a specific area, but for those who built their lives there, have a community, family, it's cruel to tell them "move to Nowheresville, OH so you can afford a roof"

And who are the ones that voted against building that cheaper housing?

Re: High property taxes are good

#29

Post by mrcarruthers »

tosser0001 wrote: post #14

"interest rates are a powerful tool to help control home prices" Unless you're paying cash, most people think in terms of what their monthly payment will be. So driving down the price may not make any particular house any more affordable.

There's also the downpayment to think of. While the monthly payments may not have changed all that much, the downpayment certainly has.

Re: High property taxes are good

#30

Post by lijogdfljk »

gedy wrote: post #7
vanilla_nut wrote: post #2

In my region of northern New Hampshire, there are a lot of retired folks with houses rising from $200k-ish values to closer to $500k-ish values in the last 5-10 years. As such, there's a lot of discussion around lowering property taxes to help these retirees. In my opinion? Fuck 'em. Property taxes are a brilliant method of perfectly progressive taxation: you can always choose to live in a cheaper home. If your home…

> Those of us who can't afford property will shed no tears. You seem to believe the fallacy that not being able to afford a home is other homeowners fault, and not due to poor government planning (likely by the same politicians you willingly vote for.)

I took their statement differently; rather, that they aren't concerned for the fallout of the Haves at the sacrifice for the HaveNots.

I am uninformed in this game, so this is not a statement by me: However i've been told that one issue is squatters, land being used purely as investment and with low costs you can easily afford to buy land and squat it till a time when you later sell it in the market.

As someone looking to buy land to build a home on, i've noticed quite a lot of property seemingly being used purely for investment. Flipped through the years for profit with no real added value, in an area of the country (PNW) that is very, very expensive due to limited supply. It is very cheap to keep land, tens of dollars a year for 10 acres (the lot size i'm familiar with) iirc.

Inhibiting this behavior seems beneficial.

Though i imagine more interesting (than simply "high") taxes could help more. Ie something like a higher tax on unimproved and uninhabited land. Encourage usage, not squatting.

But.. i don't know anything here. I just have experience looking to buy land, and watching what goes up for sale.

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