This topic contains 0 replies, has 1 voice, and was last updated by Anonymous 7 years, 4 months ago.
- October 26, 2011 at 1:39 am #371728
having made any improvements or sold your home or derived any income from it, isn’t that an unrealized increase in capital gains? Why should your taxes increase? If your taxes keep increasing via multiplier increases, assessed valuation increases doesn’t that penalize people who stay in their homes for 5,10,or 20 years? Is this fair? Homes are not truly an investment until they are sold and paid off. Until then, the bank owns them and the citizens are paying for the privilege of keeping it up for the tax assessors and the banks or mortgage companies. Wouldn’t it be more fair to tax our homes at the purchase price plus any improvement costs until any profits are realized? Other investments are taxed on realized gains and losses. We can’t deduct any home improvements or upkeep from our taxes so how can our homes be considered an investment? With real estate taxes increasing annually, it helps increase the rate of mortgage defaults and hurts citizens who live in their homes.
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