Not saying I'm opposed to property taxes but they aren't accessed fairly in my opinion.
Here; Property tax is a % for every assessed 1,000 of value <- everyone pays the same % of every 1,000. So thats fair since one can buy a million dollar home , he will pay more than a guy who bought a cheap home.
However the trick word is assessed ? ? what that is based on is market value from a given hood. So rich hoods with big homes are assessed higher than poor ghetto hoods. Sounds fair right ? not really.
One hood I lived in although beach front homes but they were built in the 1920s. Single wall construction very old and simple homes. 1982 a hurricane hit and damaged all the homes on that street except for one, who was my neighbor, his home was virtually untouched.
Now everyone rebuilt their homes with insurance money, except for my neighbor who got no money because he had no damage. Everyone rebuild these big beautiful homes with pools . The city came by and assessed the new value of 1.2 million for the hood -> even my neighbor still with his 1920 home had to pay the new property tax rate , now being retired he could not afford the taxes and was forced to sell.
Cali has the best I believe - the value is what you paid for it - not someone that drives by and drops an assessment.
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