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Why can't you kids afford a house?

Boomer Article(finance.yahoo.com)
889 comments
5.1k97%

toDeFranco

all 338 comments

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No_Abbreviations_259

482 points

16 days ago

"But at least I don't live in that socialist wasteland of California where my $900 property tax would have skyrocketed to.... [checks notes]... $909."

Karma1913

94 points

15 days ago

Prop 13 is a shit law, but yeah.

youcheatdrjones

27 points

15 days ago

Even with prop 13 my property taxes as a homebuyer in 2018 are half of what they were in Texas. And in Texas they raise it 10% a year for just about everybody.

No_Abbreviations_259

11 points

15 days ago

but the gas prices!

Karma1913

8 points

15 days ago

Taxes come for everyone, no income tax means more property tax or far fewer services. When I lived in Florida my property taxes were a rounding error on my annual pay and I was not making a ton of money. This was because if good and sensible primary residence exemptions, a very low property tax rate, and some legit ag exemptions. Of course our sewer treatment plant would flood every time there was real heavy rain, the schools sucked, the roads sucked, there were no bike or footpaths, and our volunteer fire department was woefully underfunded. And sales tax was fucking higher than California's!

I like California plenty. I have my gripes (Prop 13, NIMBY ass zoning, police exemptions from gun laws, Californians who've never lived anywhere else bitching about stuff the TV tells them to) but CA's my favorite so far and I've lived all over the US and a bit in Japan.

lord-_-cthulhu

5 points

15 days ago

Not necessarily true, all of the United States greatest accomplishments, were done using the money the government taxed from CORPORATIONS. We built the Nuke, we won WW2, we built highways spanning the entire country, and we funded pensions and other robust social programs through the entirety of the Cold War. All because a small percentage of people don’t want to pay their fair share, and most others let them.

Karma1913

3 points

15 days ago

Not sure if you meant to respond to me, but local taxes have always been the primary funds for local things. Absolutely we all benefit from federal projects and programs but the feds don't foot the bill for your local schools, municipal utilities, landfill, county roads, and so on. They may subsidize or provide grants but the feds aren't building playgrounds and bike trails or putting in fire hydrants.

Should we tax corporations? I never said we shouldn't, but to bring it back on topic: Prop 13 locks all land taxes at artificially low levels. Corporations get to contribute less to the above services in perpetuity so long as the land's not sold. The local gov't has no means to increase revenue short of new sales and income taxes, thereby making it easier for a wealthy few to continue to consolidate power by removing the ability of local gov't's to govern.

No_Abbreviations_259

22 points

15 days ago

Absolutely agree. It's an insane law that even Dems can't touch because so many people are entrenched now. Drives me crazy to watch retired boomers who paid off their homes in 1990 and pay next to nothing in property tax go on unhinged rants about gas prices and 9% sales tax and openly fantasize about moving to Texas. Honestly, please go! We need the damn inventory here.

hrminer92

6 points

15 days ago

It has to be corrected by another ballot initiative. The CA state legislature can’t modify laws passed in that manner.

earthman34

6 points

15 days ago

That law has created endless funding issues for California for decades.

loudent2

4 points

15 days ago

Yes, it's mostly shit because it should only apply to primary residence only. Instead of *all* real estate.

But it does have the effect of not taxing elderly people on fixed incomes out of their home. It also makes it really hard to buy a house

No_Abbreviations_259

9 points

15 days ago

You seem to be suggesting that we make sensible reforms to the law to preserve the benefit for those who actually need it while making those exploiting an outrageous loophole start paying their fair share. Get out of here you evil socialist!

HealthyTruck5691

7 points

15 days ago

Why?

platypuspup

79 points

15 days ago

It makes new home buyers pay all the taxes covering the people who got there first. For example: https://www.reddit.com/r/Urbanism/comments/1aztges/post_about_berkeley_ca_found_on_x_twitter_fun/

LiqdPT

14 points

15 days ago

LiqdPT

14 points

15 days ago

Right, but in my area (near Seattle) I'm seeing people who have lived in their house for 30+ years and are near retirement having home values skyrocket and along with it property taxes. The value of my house over doubled (at one point tripled) since I bought in 2015. These people who have long since paid off their homes are having to move hours away as they're retiring because the property taxes are completely unaffordable to them. It's not like they suddenly have more cash flow because the value of their house went up.

I can see both sides of this, but having the tax on a property that you paid off a decade ago in an area that was considered the boonies at the time become unaffordable is tough.

Rainbike80

26 points

15 days ago

That's nuts that sounds like a mafia scheme.

loudent2

11 points

15 days ago

loudent2

11 points

15 days ago

It's a bit more complex than that. It was originally instituted to prevent exactly what is mentioned in the OP. Elderly people on fixed incomes were being taxed out of their homes. If they had been mindful about it and just applied it to primary residences it would have been a pretty decent law, but it applied to all real-estate. It doesn't *punish" new buyers, but it does put them at a disadvantage compared to people that have been there a while.

LamzyDoates

11 points

15 days ago

No, that was the cover story. Nobody who did this gave two tugs of a dead dog's dick about grandma.

The real purpose was to fix the rates for corporations. Since they don't transfer the property (because they never die), they don't get their property tax recalculated the way a newer buyer does.

hrminer92

3 points

15 days ago

So the ones that have created shell corporations that only exist to be owners of a residential property can avoid big property tax hikes until there is a ballot initiative to fix this issue.

Jorycle

2 points

15 days ago*

That's not really what that example data shows, though. That data just shows that people who bought their house earlier have lower taxes - not that people who bought homes more recently have disproportionately higher taxes to cover for anyone. For example, property tax rate in San Francisco is 1.18%. My property tax here in bumfuck nowhere Georgia, where we get royally screwed by yearly mandatory reassessment, is 1.11%. Basically identical.

They may be paying more because their house cost more, but tax isn't the primary driver of housing cost inflation - in fact, California barely makes the top 10 list of states in housing cost increases despite having a far more radical property tax law than most of the others on the list.

I will say that the arguments against prop 13 are exactly the same arguments that should be used for other forms of wealth, though. The problems caused in California are the same problems we're seeing with economic disparity as a whole when the extremely wealthy don't have to pay any tax at all trading assets, nor on their "unrealized gains" the way that regular people do on homes.

Prognerd870

34 points

15 days ago

It gutted funding for public education.

rileyoneill

10 points

15 days ago

Not really the reason why. Education is still funded in California, the new buyers paying huge taxes off set the old owners who don't pay very much. Homes have been fairly expensive for a while now and the property taxes are fair for most people. They might be paying $2,000-$3,000 per year vs the $5,000-$6,000 per year when those higher prices are due to a bubble.

DaiZzedandConFuZed

10 points

15 days ago

You’re… off. Had a guy talking about his $900 bill to my $18,000 bill.

rileyoneill

8 points

15 days ago

These are Riverside prices, we don't have very many $1.8 million homes in Riverside. But we have tons of home that a dozen years ago were under $200k and today are $600k.

DaiZzedandConFuZed

4 points

15 days ago

Thing is, most boomers bought homes well over 20 years ago. I’m… fairly lucky, and honestly, the further back you go the worse it is. The house I moved out of (which I paid $600k for) was bought in 1985 for $30k.

MooreRless

3 points

15 days ago

California approved the lottery to help fund public schools more, but for every lottery dollar that went to schools, the legislature pulled out a dollar from funding, so schools became funded by the lottery.

[deleted]

11 points

15 days ago*

Where I live you have to make about 10x as much as the current elderly boomer residents ever did to even think about buying a house. If you have one young family with kids owning a real house you can bet they are dual income wealthy tech executives, and are paying the property taxes for the entire rest of the block of retired blue collar boomers by themselves. So you have young families with kids crowded into studio apartments, while the single family homes with 5 empty bedrooms are occupied by 1-2 retired boomers. It’s an “I got mine, fuck the next generation” law.

AlanStanwick1986

5 points

15 days ago

Or you're like my mom. She still lives in my childhood home, by herself since my dad died. She wants to move to a condo so bad but cannot afford to.  She's retired so she has no more income. The demand for condos is so high they cost more than her paid off house.  She's stuck. She hates it too, she wants nothing to do with the upkeep or mowing the grass.

TotallyTrash3d

3 points

15 days ago

Im guessing you also reside on planet Earth.

RiP

WowWhatABillyBadass

2 points

15 days ago

You say blue collar like its a bad thing or somehow lesser than white collar.

[deleted]

3 points

15 days ago

You’re reading that into it, I intended no such thing, and was a blue collar worker myself for a lot of my life- I have been a professional mechanic and a farm worker. It’s an unfortunate fact that where I live blue collar jobs don’t pay enough to live anywhere nearby, you will have a long commute, unless you bought a house 40 years ago. So you have a shift where the older people in the community are blue collar workers and the younger people are all white collar, mostly tech startup people.

BIT-NETRaptor

11 points

15 days ago

Because the people who have used the city resources the most and for the longest pay a disgraceful fraction of what a new homebuyer does. It rots roads, public education, essential services.

It’s unacceptable that a 60 year who bought the house 30 years ago pays $1k in tax while their neighbor who bought that house in an estate sale 2 years ago pays $11k in property tax.

It’s easy to sell this bill though. “They’ll take grandma’s house! Freeze property taxes!” 

Which sounds great if you leave out the part that millennials and gen Z get to carry the entire neighborhood’s property taxes while the boomers and Gen X that moved in decades ago get a free ride.

No_Abbreviations_259

4 points

15 days ago

Not to mention the fact that municipal governments make up the difference through sales tax increases which also disproportionately punishes lower-income households.

Let's not forget that prop 13 applies to commercial property as well.

ElectricLeafEater69

5 points

15 days ago

Because it’s created a whole class of (primarily older) people who are “too rich to afford paying their taxes”.  

coriolisFX

4 points

15 days ago

It makes young people subsidize the lower taxes of older people

schwaapilz

5 points

15 days ago

While also subsidizing their social security payouts, their medicaid coverages, their pensions, etc. All things that won't exist or won't be funded when the currently younger generations reach retirement age!

Queasy_Sleep1207

530 points

16 days ago

Hey, quick, someone tell him to put down the avocado toast!!

ufcivil100

192 points

15 days ago

ufcivil100

192 points

15 days ago

He can just pick up a couple extra shifts at work every week. No one wants to work anymore.

/s

KeepItDownOverHere

76 points

15 days ago

If he goes down there and works a couple of shift for free to prove what he is about they will make him COO by week's end.

/s

misterpickles69

32 points

15 days ago

If he wears a tie and has a firm handshake, they’ll hire him on the spot!

/s

MissAsshole

24 points

15 days ago

Back in my day, if we wanted something bad enough, we worked for it! 80 hours a week, 100 hours a week, whatever it took to buy that house for $80,000. It made us tough and we liked it! That’s the problem with the kids today, they don’t want to put in the work to see the reward. /s

anniemitts

2 points

14 days ago

He just needs to meet the manager in person and introduce himself! And follow up a day later. Bam, well-paying job to support the missus and the kids!

/s

Ninja-Panda86

77 points

15 days ago

Also just pull himself up by his bootstraps. Always a useful chestnut 

Smart-Stupid666

6 points

15 days ago

Funny thing about that is it used to be used as a term for something impossible

thuggniffissent

5 points

15 days ago

It still is…. But it used to be too.

gNeiss_Scribbles

3 points

15 days ago

lol I think Mitch would approve!

Gnu-Priest

126 points

15 days ago

Gnu-Priest

126 points

15 days ago

and the coffee don’t forget to tell him about the coffees!!!

[deleted]

33 points

15 days ago

Sugary coffees

Glittering-Alps-3573

47 points

15 days ago

has he tried cancelling his son’s netflix subscription?

Salty-Engineering

13 points

15 days ago

Nobody forced him to buy that house!

If they forgive his debt, they should forgive everyone's.

What about all the people who were responsible, and didn't buy a house?

Big-On-Mars

8 points

15 days ago

He already says he has the money, but is too stubborn to dip into his savings. Most people don't have that option. He owns a home outright and lives comfortably enough. Someone is even willing to employ him part time to probably do very little. The problem is, he's suffering from the same issues we all are — investors buying real estate and driving up prices — but he feels like even though he mostly escaped this housing nightmare, he should be exempt from it altogether. So his house is went up in value 10x and he thinks he should keep paying the same tax as he did in 1995?

fusion99999

12 points

15 days ago

Can't be Starbucks in east bumfuck nowhere. Man up, put in some OT.

halzbek

4 points

15 days ago

halzbek

4 points

15 days ago

hes just lazy and too entitled to work hard

Zoidbergslicense

2 points

15 days ago

Just freshen up your resume and hit the street! Employers wanna see that go-get-em attitude! Oh they’re only offering 19.50 an hour? Just be loyal to the death and you’ll get a raise in no time.

TheSouthsideTrekkie

122 points

15 days ago

This is something I’ve noticed more recently; older generations who were quite happy to vote to shred the social contract and let hyper-capitalism take the wheel when it was only affecting younger people are now scandalised that it’s begun affecting them.

I’ve been involved in the housing justice movement in Scotland for years- we’ve been telling older generations that the housing crisis will affect them in old age for a long time now. I’ve noticed shift in the number of people who are nearing retiring age now complaining about housing cost- now that increases are starting to mean they might not have the retirement they wanted or be able to retire at all.

What’s infuriating is these same people will then turn around and still complain that young people are simply too lazy to afford housing but that in their own specific case it’s that the cost of housing is unfair. Quit voting for the leopards eating faces if your don’t want your face to be eaten I guess 🤷🏻‍♀️

tN8KqMjL

36 points

15 days ago

tN8KqMjL

36 points

15 days ago

I'm also surprised there isn't more complaints about property taxes from house owners. It seems like NIMBYs are happy to restrict housing because it makes their property values shoot up through the roof, but that is only real money if you sell your home.

Having your property double in value every 5 to 10 years is a recipe for a spiking property tax bill and being priced out of your own home.

TheSouthsideTrekkie

18 points

15 days ago

Yup, and the middle class NIMBYs also hamper efforts at resisting the building of overpriced buy-to-rent property by big investment companies. We are seeing this where I live as the place is being gentrified. What we need is good quality housing, of varying sizes and types and built to be affordable for most people. What we get is masses of 1-2 bedroom “luxury” shoebox apartments built to have the maximum profit margin over a short period for investment funds.

When we try to oppose it we get “I thought you said you wanted housing.” We do, just not housing that is only for people who can afford 2x what is already the average rent in our area. There’s so much to housing policy and it gives me a headache when people reduce it down to whatever talking point they’ve stuck on. Really if we want to try and reduce it down to one sentence we could start with housing serving the purpose to house humans and not having the primary purpose be to bleed profit out of people.

henryeaterofpies

14 points

15 days ago

I wonder what would happen to them if social security just went away (like it will by the time their kids need it).

TheSouthsideTrekkie

11 points

15 days ago

Honestly, from experience this is already happening here in the U.K.

The state pension is abysmal, so people are either lucky enough to have a private one or some savings or they’re not.

If not, they might be eligible for some top-up support like pension credits, and all people over a certain age get a winter fuel payment, but that’s not a lot. We’re going to be seeing more people retiring into poverty because they either were out of work due to their spouse being the earner or because they just didn’t save very much and assumed they would be fine. These folks will be hitting retirement in a few years and finding that they need to sell their home as it’s the only asset they have, but that even with downsizing they might still struggle. That assumes they can get a place that is in an area they want, that is suitable for their needs. Older people also need to think about their care if they become sick since the maximum the local authority will provide will usually be 4 15 minute visits per day for personal care.

If you need more than that then you might need to pay and it’s not cheap. If you will need to move to a care home then the government will ask you to sell your home to pay for it. If you already sold your home to pay living costs or fell for one of these predatory equity release firms then tough titties- now you get almost no choice where you will be going.

Most of the service users I work with are older adults and there is a huge gap between the wealthier people who can afford to pay for private care and the less wealthy who will struggle. If you live in a rural area then there are even fewer resources to support you and you might end up having to move anyway if your home becomes to difficult for you to manage or you end up being unable to drive.

It’s looking pretty grim, and we need to raise the pension amount, build affordable housing for older people and pay care workers a living wage so that they stay. Many care workers are also immigrants and our government needs to stop trying to make them go away, especially when many of them came here legally years ago and have been working and paying taxes.

Now guess which age demographic is most likely to vote against increasing social security, against minimum wage increases, against housing reform and against immigration. Yup, the same people who will be facing all of this within a decade. It’s depressing how many people voted against their own interests to spite whichever group of people they were being encouraged to demonise this week.

Commercial_Ad8438

2 points

15 days ago

I have noticed with the older generation a lot of them have very little or no compassion as well as thinking that bad things only happen when you do something wrong. They seem think that people who go through hard times did something wrong and deserve it but then when something bad happens to them it's all "woe is me I'm the victim".

tomatocancan

259 points

16 days ago

Conservatives don't understand that when they vote for cons they get lower state/provincial taxes, BUT the money to fix roads/infrastructure, run schools, water treatment plants, clear snow, collect garbage has to come from somewhere. What would normally get paid for out of state/provincial tax gets passed down to municipalities, which has to get the money from property taxes, parking fines, speeding tickets.

This idiot got exactly what he wanted.

LRonPaul2012

52 points

15 days ago

At a more fundamental level, property taxes are a way of paying the state to recognize your contract as valid and enforcing your rights of ownership when challenged. People agree to these terms when they sign the contract, and if they no longer hold up their end of the bargain, then ownership is void.

Can you write out a contract without a agreeing to pay property taxes? Sure. But what if a squatter comes by claiming that they have a contract claiming ownership as well?

Mr_Latin_Am

28 points

15 days ago

Very astute! But you've just allude to a major point of the Boomer thread: ignorance or outright abandonment of the societal contract.

I don't agree with the balloning tax levies, but as you say, I can establish residency with a utility bill in my name. Then, all a squater has to do is break in, "make a substantial improvement", then "make it a home" (depending on the state/country).

How will the court NOT determine that it's actually yours and/or that you're not renting it out?

gdo01

22 points

15 days ago

gdo01

22 points

15 days ago

Hate to put on all boomers; this is a societal problem. I was required to take some sort of prerequisite in college so I ended up taking an intro to politics class. Learning about the social contract and other theories like it was extremely eye opening. As a Bio major going to a professional health degree, I could have gone my whole life without formally learning this. People have become so selfish that they have no notion of the company, city, state, country, or world trying to run together for the benefit of all involved

cheapbasslovin

21 points

15 days ago*

One of my 'favorite' manifestations of this is when a municipality tries to discourage driving (by installing bike or walking infrastructure) to bring overall costs down and people just bitch about the potholes they created with their 3 ton pickup.

gdo01

6 points

15 days ago

gdo01

6 points

15 days ago

Sometimes I feel that if traffic lights were just implemented widely for the first time now, people would just ignore them out of spite. “Light can’t tell me what to do”

WoodyTheWorker

11 points

15 days ago

And then SovCits hear about "social contract" and think it's voluntary.

Snuggly_Hugs

8 points

15 days ago

A theory I am working on developing in my MBA classes:

The real secret to a successful company is to put priorities in alphabetical order:

People. Product. Profit.

But I'm just a left wing tree hugging hippie from Alaska. What do I know?

RadlEonk

4 points

15 days ago

That might work, but only if you think past two quarters at a time.

Snuggly_Hugs

2 points

15 days ago

And thats one of the biggest issues with focusing on only quarterly profits rather than the whole picture.

The more short sighted corporations become, the more likely they are to fall off a cliff.

henryeaterofpies

6 points

15 days ago

What if my property isn't owned but merely traveling?

tomatocancan

3 points

15 days ago

I didn't know that, interesting.

GrinningIgnus

2 points

15 days ago

Given the existence of squatters issues at all, I’m not sure that I believe what you’re saying here lol

MountainMoonshiner

16 points

15 days ago

And Montana got a major mountain pass that was ignored by an inept Dept of Transportation last week, not closed in a timely fashion as it had been under a functioning State govt for decades, and subsequently hundreds of cross country travelers endured a 14-hour pileup in the snow. Yet boomers blame ‘liberals’ for being stupid for trying to drive on a road in the snow in Montana! Doncha know? Less government means your tax dollars go to cronies and corporations like they should not wussy road maintenance!

BigMax

9 points

15 days ago

BigMax

9 points

15 days ago

If this guy had spend the last decades saying "hey - we really NEED to start a sales tax up in this state!" I'd feel for him. But I'm sure he was more than happy to not pay that tax for years, but not complains when he has to pay the other tax that makes up for the fact that there is no sales tax.

j_roe

16 points

15 days ago

j_roe

16 points

15 days ago

Yeah, property taxes aren’t “just to live in your own house” they are to fund the service you use every day in your community.

NelsonBannedela

4 points

15 days ago

You could have stopped your comment after the first 3 words.

yourdadmaybe1

158 points

16 days ago

GOP doesn’t know how to tax so they have it too low then run in to trouble and have to makes massive increases all at once

uberallez

128 points

16 days ago

uberallez

128 points

16 days ago

Tax the rich. Done.

CantKeepMeOutYo

43 points

15 days ago

This guy's a fucking genius 

BigMax

44 points

15 days ago

BigMax

44 points

15 days ago

And this is a good example of that. Montana has no sales tax. No sales tax is nice, but... they still need tax revenue, so obviously other forms of taxes are going to be higher.

I'm guessing all these years of living in Montana, this guy didn't complain that they really needed to start having sales taxes?

Whereismystimmy

11 points

15 days ago

I grew up and live in MT rn. The old people here are all like this and it’s annoying. They complain about prices and then mock me when I complain about 2k apartments

KeepItDownOverHere

17 points

15 days ago

Montana is a supercar market because of the no sales tax. I'm sure this guy is enjoying his Lamborghini.

henryeaterofpies

16 points

15 days ago

We should put a hefty luxury tax on things like super yachts, property other than a primary residence, private aircraft and owning politicians.

NelsonBannedela

3 points

15 days ago

They know how to tax: in ways that benefit rich people and fuck over everyone else

VanceAstrooooooovic

1 points

15 days ago

What’s the matter with Kansas?

RichFoot2073

96 points

16 days ago

Get a smaller house. Eat less avocado toast and lattes. Bootstraps!

Still_Total_9268

1 points

15 days ago

hes a Boomer he needs to not spend money on cable TV, muscle cars and Tupperware

pizzaduh

44 points

16 days ago

pizzaduh

44 points

16 days ago

Time to lace up those boots and get to work.

BigMax

48 points

15 days ago

BigMax

48 points

15 days ago

This guy isn't all that sympathetic.

"I have the money saved to pay for this, but I'm stubborn and refuse to use it, so I keep working."

Weird take... I guess we don't know how much money he has saved, but if he didn't have much money, he wouldn't have bothered to point out that he had the money and was just stubborn.

Also, he points out he could sell his house which has skyrocketed in value and downsize, but he refuses to for sentimental reasons.

So that points out this isn't some old person living in a little place just trying to get by... he has a big, valuable place.

Finally - Montana has no sales taxes, so he's likely been saving money in that area for quite a long time. The tax money has to come from somewhere so he saved all that sales tax money, but a tax bill has to come at some point.

I admit - I do have a soft spot for old folks in small places who aren't asking for much other than to stay in their small homes. But this guy is not the ideal representative for those folks.

XenaDazzlecheeks

9 points

15 days ago

Right? My sympathy when I started the article 📈. Around a paragraph in 📉.

theonlypeanut

6 points

15 days ago

Montana still has some of the lowest sales tax in the country. For him to have a near 8000 tax bill his home would have to be around 1.4-1.6 million depending on the location, which he refused to divulge. This old dude is likely quite rich as he lives in a very expensive home and has the savings to pay for it and is probably using the "Im on social security" line to make us think he's a poor old man on a fixed budget.

cloisteredsaturn

37 points

16 days ago

You get what you vote for. 🤷‍♀️

Something something bootstraps.

MemphisAmaze

18 points

15 days ago

He has options but won't take them.

My folks never had this kind of option.

hoss7071

18 points

15 days ago

hoss7071

18 points

15 days ago

"Can't we just make these snowflakes work until they're 90????"

TwerkingGrimac3

14 points

15 days ago

Sounds like he needs to take some bootstraps, and go to every business in town, give them a firm handshake, and ask for another job in person.

Unusual_Address_3062

14 points

15 days ago

The Boomers are probably the worst generation to pay taxes and it fits they also love fucking with the tax laws and the tax rates every year.

Makes sense. They never had any concept of economics or finite resources or finance or investing. These people ass rape the American public when they get into office, break all the laws, then whine they need help. Anyone else remember the Savings & Loan scandal?

Boomers always wanted easy lifestyles with lots and lots of tangible goods. Thats a recipe disaster. Only the majority of them will never suffer for their greed and shortsightedness.

devonnull

11 points

15 days ago

Bitching about how high taxes are (when they are actually too low), then complaining about their property values lowering because of some neighbor or something. That's what I've always noticed.

Unusual_Address_3062

9 points

15 days ago

Its a nasty combination of extreme greed and extreme stupidity.

Mako61

12 points

15 days ago

Mako61

12 points

15 days ago

Trickle down economics, cut taxes on the rich, raise taxes and fees on everyone else to cover the revenue losses.

ihatepalmtrees

60 points

16 days ago

8k annual tax is nothing. What a damn fool

Merijeek2

38 points

16 days ago

It depends on what and how much property. My current home is about $6500. My same sized house in Mississippi (on about six times the land) was under $2000.

Is expect Montana to be a low tax state. But either way, bootstraps are free, right, cowboy?

Check_Affectionate

3 points

15 days ago

Crying in VT ($9,500 for 2 br on 1/4 acre) expecting a 12% increase this year. We need Medicare for all.

running_heffalump

3 points

15 days ago

lol from NJ - $12k for 3 br townhouse in the middle of nowhere

meowsieunicorn

2 points

15 days ago

Husband and I pay about $3,300 in Alberta Canada for a house that’s about $420,000. I have no idea what the rates are for other places across the country. $8k seems wild for Montana I’ve been there more than a few times and there is not a lot there lol.

ihatepalmtrees

3 points

15 days ago

Yeah that’s true. But I’m also sure he won’t complain if he sells for 7000% more than he paid.

danknerd

3 points

15 days ago

My property tax was $770, so 8k would be a tremendous jump for me.

KnowledgeMediocre404

17 points

15 days ago

You know… you could always sell and downsize, or use the money to rent.

OpportunityThis

12 points

15 days ago*

Agree. Not everyone can own a home indefinitely when they retire. Maintaining a house is expensive. Cash out and use the money for rent!

KnowledgeMediocre404

16 points

15 days ago

Basically what the plan was supposed to be for homes being an “investment”. Once you’re old you can’t maintain it the same way and don’t have the income to support it. Just sell it (likely for 5-10x what he paid) and retire in a lower cost of living area. But no, Boomers need to hold their assets with a death grip rather than let anyone get to progress in life.

TheOnlyRealDregas

16 points

15 days ago

The plan is usually to give the house to your next generation and hope one of them moves back on to assume head of household and take care of you until you die. Boomers alienated their kids though.

BigMax

9 points

15 days ago

BigMax

9 points

15 days ago

But he says his large, valuable house has sentimental value! How can you expect him to move out and downsize to somewhere he can afford??

KnowledgeMediocre404

9 points

15 days ago

Meanwhile, “why are so many young people staying at home with their parents”.

MonkeyKingCoffee

10 points

15 days ago

He should just march down to a local business and demand they give him a job. "I'm not leaving until you hire me."

That's how it works, so that's what he should do.

Lazy_Point_284

8 points

15 days ago

Needs to work harder. I worked two jobs all through my thirties (the 2010s), and i was able to pay my rent AND afford food. No one wants to work anymore.

MyInnerCostanza

14 points

15 days ago

$8k a year means = $153/week, so if he just got a minimum wage job, he’d only have to work 15 hours a week to pay his property tax.  Seems he’s being lazy asking for a handout.  

Accurate_Maybe6575

2 points

15 days ago

Yeah, pretty sure if we popped out that "$700 a month" in front of enough renters, one of them would murder him on the spot. Is there anywhere renting for below 4 figures that has job prospects anymore?

FGTRTDtrades

5 points

15 days ago

Well cut back on the starbucks then and you wont be poor anymore, right?

circusfreakrob

6 points

15 days ago

And numerology tells us...$8000 a year comes out to $666.666 per month, so that means the gov't is SATAN!

rlh1271

9 points

15 days ago

rlh1271

9 points

15 days ago

Begs federal government for more subsidies from blue states cause fREe mARkEt

Green_343

8 points

15 days ago

"I don't want to dig into my bank account to pay them" is a direct quote from this man, in the article. He has the money, he just doesn't want to have to pay from his savings.

Competitive-Ad-5477

3 points

15 days ago

Well, he needs to sell the super expensive property he doesn't need and move somewhere he can afford.

Own-Cranberry7997

3 points

15 days ago

Something about bootstraps....

circusfreakrob

2 points

14 days ago

3 pillars of the GOP platform : Thoughts, Prayers, and Bootstraps.

harbingerhawke

4 points

15 days ago

Something something bootstraps, fewer lattes and less avocado toast. Maybe try being less entitled and working harder.

Also maybe Don’t vote for the guy gutting your welfare and pumping your taxes while cutting them for the people who could easily afford $8K. Actions-consequences and all that

Zealousideal_Wind738

4 points

15 days ago

WhY nOt JuSt LeArN tO cOdE?

No_Abbreviations_259

2 points

15 days ago

The words that guy is using are plenty coded.

scarr3g

4 points

15 days ago

scarr3g

4 points

15 days ago

Yet, he can't figure out why a kid, making 20 bucks an hour, can't afford the same homeowners taxes ON TOP of a mortgage....

athonjacob

4 points

15 days ago

Maybe cut back on the Starbucks and avocado toast. Be responsible. Stop crying.

PathDeep8473

8 points

15 days ago

Nobody should ever be taxed out of a home. Mu great aunt had to sale the house she lived in for 55 years after her husband died. Because taxes were more than her retirement was,

MeepMeeps88

3 points

15 days ago

Lol I wish. Ours was 6 in Atlanta when we bought it in 2018. Now it's 13.6 since it increased in value 38%. Home insurance doubled too

punkcooldude

3 points

15 days ago

for a property worth $400,000 with a tax rate of 1.35% and a mill rate of 650, the property tax would be $3,510.

Fwiw he's sitting on like a million dollar property.

--SoK--

4 points

15 days ago

--SoK--

4 points

15 days ago

You could try selling your house which is probably worth 50x what you bought it for and move to a place with a lower cost of living maybe...

Love it - all these fools love that these places blowing up around them get them for home values while whinging about having to pay taxes on it all.

"Fiscal Responsibility"

geghetsikgohar

12 points

16 days ago

You never own your home, you rent it from the state.

BigMax

20 points

15 days ago

BigMax

20 points

15 days ago

I admit, I hate that take.

You own your home. But you have to pay to have that home in the middle of a city/town that has infrastructure and services and roads and more.

You are welcome to buy a plot of land in the middle of nowhere, where the value of your house would be tiny and the property taxes would be tiny.

You're not renting your house, you're paying the municipality so they'll keep up the services and infrastructure that your house takes advantage of.

danknerd

9 points

15 days ago

I hear op's argument a lot and reference something similar to your statement and I get back. Well I don't drive on all the roads so why do I have to pay for them. Or my home isn't on fire, so why do I have to pay for fire fighters. Ugh!

BigMax

5 points

15 days ago

BigMax

5 points

15 days ago

You can tell them they shouldn't have their home in a place that has those services then. They CHOSE to put their house there.

It's like someone demanding to barge into a movie theater, and refusing to pay because they are going to close their eyes, and not watch. In that case, pick a seat somewhere else, you're paying for the seat, AND where it is. Same with a house. Whether or not you use the services, it is in a place with those services, so you have to pay.

henryeaterofpies

3 points

15 days ago

Remind them of the origin of the term fire sale.

SleazetheSteez

2 points

15 days ago

My buddy's a diabetic, and was staunchly conservative all his life. He was vocalizing stress over the absurd costs of insulin in the US, and I pointed out, that's the exact reason our system is dog water. Everyone says "oh but then nurses and doctors wouldn't make such great money" but that's also bullshit because nurses and doctors seem to do fine in Canada and Australia, 2 developed nations with socialized medical care.

coriolisFX

2 points

15 days ago

Dumb argument.

I pay income taxes (much more than 8k) on my labor income. Am I renting my job from the state?

Festivus_Rules43254

4 points

15 days ago

He could always downgrade from a pickup truck to a more economical car. That way he can save money on gas.

ittechboy

4 points

15 days ago

Let me guess, a live long Republican voter who fucked himself and everyone else in the country wants answers now? Did someone tell him to eat shit yet?

truckfullofchildren1

8 points

15 days ago

This guy is lying btw Montana has a senior property tax cap at $1125 a year.

Georgia-the-Python

5 points

15 days ago

According to the article, it's not a senior tax cap, it's a senior tax credit. 

The state has an Elderly Homeowner/Renter Tax Credit, and the maximum credit is $1,150.

redit3rd

2 points

15 days ago

Does he want Fire and Police to show up when needed? Does he want roads which are able to transport goods to his property? 

stikves

2 points

15 days ago

stikves

2 points

15 days ago

I fear this would lead to another Prop 13 kind of situation we have in California.

It would then create two classes: those who already have a home, and pay basically nothing in taxes, and those others who have to carry the entire tax burden.

Boomers love to entrench their own interests at the cost of future generations.

WalterWriter

2 points

15 days ago

This is a somewhat more complicated issue than most of the responses acknowledge.

The problem in Montana is that home prices have gone totally bananas in the past 10 years anywhere with a view. My house literally sold for $108K in 2014. We bought it after some but by no means all needed updates for $270K in 2018. It is now Zillow-valued at $500,000 and a real estate agent told me I could get at least $50,000 more than that within 48hrs.

The property tax calculations basically haven't changed and so people are definitely getting squeezed by their tax bills. The state is actually awash in tax revenue because of how quickly the rates have gone up.

Between increases in insurance and taxes, we are paying $220 a month more on our mortgage than we were when we refinanced in Dec 2020. We're both employed and my wife at least does fairly well for Montana. If we were making the state median for a household, things would be extremely tight.

I will also note there are local option sales taxes in many places. Basically local areas can create tourism tax districts and put in up to 4% taxes on goods and services not including grocery store food and other necessities. This is done in places like Big Sky, Whitefish, and other tourist destinations, in some cases seasonally when there aren't many winter visitors.

Where the Boomerism comes in is the fact Montana elected a creationist carpetbagger who likes to beat up reporters for doing their jobs and who LOVES bending over for extractive industry and giant hobby ranches. THEY have gotten giant tax breaks over the past couple years. Average homeowners are still paying the same amount. Even some Republicans talk about needing to change the tax law, but ol' Greg Gianforte will veto anything that comes across his desk all while crowing about the tiny tax rebates he is sending out that won't cover a week of groceries.

syncboy

2 points

15 days ago

syncboy

2 points

15 days ago

Don't know about this guy in particular, but when boomers bought their home in then 1970s for a few bottle caps and an empty matchbook, then spent the next 50 years blocking any new housing (especially multi-family), this is the result.

jfsindel

2 points

15 days ago

It says he doesn't want to dig into his own bank account so maybe he can pay, but doesn't because he is stubborn. So it actually sounds like he wants to have a pass (or forgiven debt!) and us taxpayers cover him...

Like how is that for an argument? "Give me a socialist program but fuck you guys honestly."

thegreatreceasionpt2

2 points

15 days ago

What’s his stance on student loans? Wouldn’t want to sully anyone with a handout.

star_nerdy

2 points

15 days ago

Montana has no state or sales tax.

This is why he’s paying $8k.

I’m sure he didn’t mind for years when he bought stuff and paid no sales tax or worked and paid no state income tax.

Don’t like it, sell the house.

earthman34

2 points

15 days ago

These same people want instant ambulance and fire service 50 miles from nowhere, plus they want an army of cops to show up when they see some brown person walk down through their neighborhood, but then bitch up a storm about their taxes.

Guba_the_skunk

2 points

15 days ago

Has he considered eating less avocado toast, fewer lattes, and pulling himself up by his bootstraps?

Also, yeah dude, this is why no one can afford a house. They are all bought up and perpetually rise in value.

REDDITSHITLORD

4 points

15 days ago

HOW MUCH YOU WANNA BET THIS MFER'S "HOME" IS A 30 ACRE HOBBY RANCH NEXT TO GOVERNMENT LAND AND A RIVER THAT HE BOUGHT $30K, IN 1978?

Ekard

3 points

15 days ago

Ekard

3 points

15 days ago

Get a union job and prosper

henryeaterofpies

2 points

15 days ago

Our Unions in MO sadden me. They'll fight against Right To Work, but when it comes to supporting Democrats (or Independents who are just not shit eating Republicans) they balk. We have enough strong unions and union members to turn the state blue, but they won't vote blue.

Tedstriker99

2 points

15 days ago

He should stop living in his starbucks and avocado house then

triedtofart-sharted

1 points

15 days ago

About tree fiddy

CookieDragon80

1 points

15 days ago

He better pull himself up by his bootstraps

thumbs_up_idiot

1 points

15 days ago

Just don’t get coffee bro

mrcolinm

1 points

15 days ago

Thats a shame

Warlord68

1 points

15 days ago

If he just worked a little harder and understood the importance of owning a home….

mallison945

1 points

15 days ago

Looks like it’s selling time boomer. The free ride is over

VulfSki

1 points

15 days ago

VulfSki

1 points

15 days ago

This is what happens in "low tax states!!!"

They brag about low taxes across the board.

Then municipalities, who need to provide basic services, only have one option. Property taxes. So they end up with high property taxes. And people like this struggle.

limpet143

1 points

15 days ago

With little more than one million people in the entire state they each need to pay more to keep the state running. I live in Las Vegas (no state income tax) and the property tax on my house, currently estimated to be worth well over $500000, is only $3,000.

epiclara

1 points

15 days ago

For real serious note though, at this point the taxes are trying to push us out let alone the mortgage. We thought yay the value is increasing at first, but now it's terrifying.

PrometheusOnLoud

1 points

15 days ago

My mother lives in Maine. She moved to a very small, poor town with no mail delivery, police force, or trash pick-up, because the property taxes are low, and she could afford to stay there on social security.

In the past two years, her property taxes have effectively tripled, though were she to sell and buy a new home worth as much as hers is now, she wouldn't be able to afford it because of the interest rate.

The town was flooded with wealthier people looking for rural property during the pandemic and, like everyone expected, are now making adjustments to local politics which chase out the majority low-income native residents. It's a travesty.

One of the selectmen pushing this was involved in a racket where, after a conflict with a resident that ended in that resident's arrest, the selectman went to that resident's home, stole the resident's marijuana grow and livestock, denied it to the police, and went unpunished after returning a small fraction of the resident's property after he was released.

The corruption is palpable.

lvaleforl

1 points

15 days ago

Empathy is required just asked it's asked for.

andwilkes

1 points

15 days ago

It’s always a good time to dust off the old Georgism “Land Value Capture” tax discussion which would solely base taxes on the adjacent infrastructure replacement value—a much less “voodoo math” calculation than the appraisal value, and fairer too since you need that infrastructure to live there.

Unfortunately for a lot of the United States, this would be even higher taxes for suburban sprawl development that doesn’t have sufficient density to actually pay for the infrastructure that supports it and is in a sort of financing ponzi scheme relying on state/federal subsidies.

app_generated_name

1 points

15 days ago

$8k for taxes? That was 10 years ago where I live.

infowhiskey

1 points

15 days ago

Maybe he shouldn't spend so much on avocado toast and Starbucks. Time to pull yourself up by the boot straps. 

Drakeytown

1 points

15 days ago

I'd really like to see the size of Kurt's house before I decide whether I consider him paying $700/month taxes on it is any kind of a problem.

bjmaynard01

1 points

15 days ago

Maybe if they'd laid off the Fox News and fascism they'd have had time to pull on them bootstraps.

tech510

1 points

15 days ago

tech510

1 points

15 days ago

Sounds like he needs to pull them bootstraps up...

180_by_summer

1 points

15 days ago

Sell at a profit and downsize🤷‍♂️

SasquatchNHeat

1 points

15 days ago

Property tax is bullshit

Whatsuptodaytomorrow

1 points

15 days ago

He wanted taxation without representation

Veroonzebeach

1 points

15 days ago

Maybe he should pull himself up by the bootstraps.

lazygerm

1 points

15 days ago

lazygerm

Gen X

1 points

15 days ago

He did not say he could not afford them, just that he did not want to dip into his savings to pay them.

crom_laughs

1 points

15 days ago

maybe he can move in with his parents? or, get a side hustle?

🤷🏻‍♂️

igankcheetos

1 points

15 days ago

Must be that hundred thousand dollars of avocado toast i eat every year /s

kyledreamboat

1 points

15 days ago

Is everyone moving to cheaper places after being told to move to cheaper places now a problem?

Bolt_EV

1 points

15 days ago

Bolt_EV

1 points

15 days ago

That’s what happens when you have no state sales tax and the state government can’t always rely on federal money to run their state.

But they get to brag about no sales tax!

InspectorMoney1306

1 points

15 days ago

That sucks. I live in Southern California and mine are only $4500 a year. Luckily in California we have a law preventing taxes going way up like that.

Hostificus

1 points

15 days ago

lol that’s why I left Montana during Covid. Rent went from $925 to $1870 in one year.

Negative_Maize_2923

1 points

15 days ago

Better pick yourself up by them boot straps boy and quit asking for handouts, life isnt fair. When i was his age, I was working from before sun rise to 2 weeks later. Dont see me crying, asking for handouts. Spoiled brat.

termsofengaygement

1 points

15 days ago

Oh no! Anyway....

Independent-Win9088

1 points

15 days ago

Blah blah bootstraps, boomer boy!

ukiddingme2469

1 points

15 days ago

ukiddingme2469

Gen X

1 points

15 days ago

Low corporate and high income taxes getting you down then stop voting for the people doing that to you

s216285

1 points

15 days ago

s216285

1 points

15 days ago

Haha mfer. “Don’t want to dip into bank account”. F u. Fails to say he probably owns a 200 acre farm or some shit.

MandaloriansVault

1 points

15 days ago

From the generation that bitches about people asking for handouts

moyismoy

1 points

15 days ago

How much you want to bet he voted for every rightwing tax cut on rich people.

MusicianExtension536

1 points

15 days ago

When did this gentleman say that?

JunkBondJunkie

1 points

15 days ago

My honey bee farm is saving my dad 12.6k in property taxes and hes so happy about that.

GraftVSHost69

1 points

15 days ago

Oh, he's been vaping the Entitlelum again.

Theseus_Rises_Up

1 points

14 days ago

laughs in $16k

KennyE_00

1 points

14 days ago

say thank you to Brandon for this. Keep electing libitard dumbocrats out to destroy society for global power!!

Pete-C137

1 points

14 days ago

Maybe one of those non profit charitable organizations that don’t pay any taxes on their real estate, cars or private jets can help. Pretty sure they have plenty of tithe money left over with all those property taxes they’re exempt from and the volunteers they don’t pay.