Quote:
Originally Posted by Keith P.
Excellent post, Mark. I get the impression that many of those posting sentiments to throw out capped assessments are planning students with little real-world experience in home ownership and the financial burden associated with that even with an assessment cap.
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It's the speculative nature of it that I simply cannot grasp. It's akin to "unrealized gains" in a sense that if someone your age bought your house for $150k a long while back but now it's assessed at $600k well what good is that for you unless you sell? Suddenly your property taxes start skyrocketing for no other reason because it's not as if the same old home required twice the infrastructure in utilities or whatever but you're being charged extra as if that's so.
However, at the same time anyone who's a new home buyer gets hit immediately with insanely higher rates on the same block because of property taxes evaluations only.
The problem is how we tax things, not that young people or old people should be singled out and punished like some kind of crabs in a bucket. The system needs complete reworking.
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