I have a debate tommorow and what are some cons for property taxes?\nMy topic is "Property taxes are unfair" and I'm on the Pro side...any ideas?
203516
there are some problems with property taxes. 1. is that property taxes are used to finance school systems. In certain cases property owner, namely retired people, do not benefit from school systems. Would it not be more equitable if the people using the school system paid for it?\nSome property taxes do directly benefit property owners, such as police and fire production. In that event, property taxes are fare.
518581
Hey Moham, I've noticed that you have questions on commercial properties?  Are you a landlord or do you provide services in the commercial sector?  Can you email me at mopandoria@gmail.com so we can discuss your position and what you're looking for, esp. in the commercial property questions you posted.\n\nThanks\nMo
573423
Well written article.  \n\nHaving just sold a home in the town immediately north of Port Charlotte, I can tell you that the market there has gone flat.  We were able to sell because we put a realistic price on our house.  The 1/2 dozen others on OUR STREET that were for sale when we put ours on the market remain on the market today.\n\nThe woods across the street from our old house are being turned into homes that are selling for upwards of $500,000.  Mind you, the same builder was selling the same houses in another development 2 years ago for 1/3 of the price.  I wish the new owners luck in being able to afford homeowners & flood insurance.\n\nAll over the area in Sarasota & Manatee counties the market has gone flat.  Too many people trying to cash in on the post hurricane demand for existing homes.  Made everyone's property taxes go through the roof.\n\nWe moved out of Florida, to a part of the country where you can still afford to live.
82747
Thank you! I have been trying to make this same point! They cannot apply for tax returns so they lose all that money! Where do most of the people on this website get their info from?
450201
I am all for anything that replaces the current tax structure. It is unwieldy and unfair. There are several good proposals on the table including the flat tax and national sales tax. The problem is getting legislators to actually address the issue. It has come up several times and the people proposing it in Congress get shouted down as radical thinkers. It should also be noted that the IRS is a huge bureaucracy and they are not going to go gentle into that dark night.\n\nsslpatt: Actually if you would take the time to examine the National Sales tax plan proposed last year you would find that it has built in exemptions for low income people.
11113
Oh you are opening up pandora's box!  Do  you really want tenants working on your property?  You are opening yourself up to a lot of liability issues there.  Definetly speak with a lawyer, but as a property manager I would say not a good idea!  If I let the tenants make decisions about repairs/maintenance/upkeep around here there would be mayhem!  I can't tell you how many people knock on my door daily....to ask to borrow a plunger! ugh!  Seriously though, think about your investment, you want to protect it right?  People tend to care for their own property much better than those who are merely renting!
43048
They are free because of the taxes. What's wrong with that?
85422
It's tough to fight eminent domain.  You're probably better off just going with it.  Just remember that you absolutley cannot be left in a poorer financial situtation than you were in before the process.  See an attorney, contact your local bar association.
220178
Let me tell you the minus part-\n\nBought my grandmas home valued at $595K, took out a loan for 436,000.  Plumbing was $6000 off the bat, interior painting, wall paper removal $1500.  Tons of homes in her area have come up for sale 495K-630K, and a few closed after 3+ months for sale.  Decided to rent the place for $2200, loan is $1750, insurance $90, and property tax is a mess right now.  Rent not covering the PITI ( even on neg am loan).  Gardner's raised fee due to gas, I pay water and trash. \n\nIf I sell, I am subject to capital gains on any money I make.  Based on price I paid, that was never disclosed cause there was no contract I am in a bit of a mess.  They can actually base my capital gains off the price my grandma paid on the home $19,000.\n\nUnless your related to Donald Trump, I would stay away from the real estate investing until you get a grasp on the entire picture.  I am finding it incredibly hard to remember what the basis was for deciding to take on another property.  Even with my own personal income 10K month, & rent for the home I am finding it necessary to balance my checkbook for the first time in my life.  It may turn out great down the road.  To date, its taken entire days away from my regular job, required more up front money then budgeted, caused a potential tax mess, and the worse time to try and sell in a historically desirable neighborhood of custom homes.
221336
I'm good at taxes and deductions -- in fact I prepare tax paperwork for friends and family -- for free.  I don't believe it's a matter of how much you pay in taxes that counts.  It's a matter of how you feel about living in this country.  I'm middle aged, single, never had a child, don't drive and attended non-public schools.  But I don't have a problem paying my fair share of taxes because I think it's important to help this country pay for children, for roads, for education and other public works.  Oh go ahead, call me a liberal.  I'm not insulted.  I just like living in America and believe that there are certain costs that go along with that.
195397
I think most of the no money down, subject to, and lease option stuff is crap.  Perhaps after you have gained experience you can get deals no money down.  I lived in a college town also and saw the same thing happening in my town.  Rentals were everywhere.  I got started in real estate as a birddog.  I made $500 finding leads for an investor.  $10/ per lead he didn't have to close for me to be compensated.  There are only so many investment opportunities in one market though, so now after much debate I am becoming a realtor. Then I plan on being a commercial broker and THEN an investor. It is gonna take a while. I really think that you need the money/ experience/ connections/knowledge before getting into such a heavy endeavor with such thick legal implications and even scarier liabilities/consequences. If you don't know what you are doing you can get hauled off to jail for 3rd degree felonies with that no money down garbage.  Besides that most single family homes make next to no cashflow, especially with the way interest rates are going up. HARD WORK HARD WORK HARD WORK!
607444
I hate to be a devils advocate but if I were you I would take it to a Real Estate lawyer, and quick! Most of them will give you a free consultation and if they think you have a good case they will take it on for a piece of the winnings.  A lot of them won't charge you if you lose.
358868
You sound like a comunist.  Maybe if you don't like it here, and paying taxes you should leave.  Bye!!
662891
No debate here, happens every day. In some cases the taxes owed on a property exceed the original mortgage amount, some deal huh. If you live in a liberal state like California or New York its even worse. The taxes are so high you need a mortgage just to pay them. An interesting result of such high costs is people are moving out of the high cost states and to places like Nevada and Arizona. There goes the neighborhood!
395415
I couldn't find a national list.  I wanted to say, no state ALLOWS tax on anything.  They REQUIRE collecting tax on certain items/services.  "Allow" implies an option.
562854
It's a good idea, simply because homes appreciate over time (maybe a lot of time, but they generally do).  \n\nYou have to take into consideration what the mortgage and taxes and insurance will cost you on a per month basis.  Then you have to figure out if you can rent it for that figure.  If you can, or can get more, is it worth the extra tax for the income?  If it's not, do you need the loss for your taxes?  \n\nRemember, when it's time to sell income property, you have to pay taxes on it unless you do a 1031 exchange, but that just means you're buying into another income property.  \n\nFinding good renters can be hard.  Can you pay for the house if it sits for a couple of months unrented?  Do you hav e the time to really check out a potential renter?  To be a landlord?\n\nThere are a lot of pros and cons.  If you have the time and the resources, by all means, hold on to it because real estate is a great thing to have.  But it's a lot of work too!\n\nGood luck  :)
22275
Today's realtor never cease to amaze me what they see as OK.  If the realtor is the agent for the selling party, how do you think the seller would feel if they found out, especially if the realtor is kicking back something else to the buyer in the first sale or the second sale.\n\nFIRST EDIT: I'm not saying that from the buyer's perspective it isn't a good strategy, but raises some ethical questions for me.\n\nSECOND EDIT: Do you have a realtor?  If not, they should be lowering their fees on the first sale for god's sake.  If they aren't doing that, you don't want them selling your house.