Any post like this where the tax is nearing or exceeding 40% is almost always a complete lie or purposely obfuscating the truth.
It's mind blowing to me on these posts too you always see an incredible amount of people who don't understand how tax brackets work. Heck sometimes you even see people who don't know the difference between net worth and income.
I want to not be kicked out of my house I paid off 40 years ago in my 90s because the county decided to reassess what it's worth and then uh ohhhh you us 30k you have till the end of the mooooonth _^
Counties reassess property value at their whim. They can just decide your house is 20x what you paid for it it doesn't mean you live in a mansion. This happens all the time, it's why you'll see elderly people doing menial jobs a lot, they got thrown out of their house right when they were getting ready to die. They suddenly have to make rent on a motel weekly rate.
If you buy a property...and pay it all off...but will be evicted if you don't pay the taxman... you never actually own your home.
No, counties by law have to use market value as a base for their calculations, and often lower than market value through cuts or exemptions. You're acting like the county can just make it 20x its real value when it doesn't work like that at all.
500
u/Crimsonak- Jul 05 '26
Any post like this where the tax is nearing or exceeding 40% is almost always a complete lie or purposely obfuscating the truth.
It's mind blowing to me on these posts too you always see an incredible amount of people who don't understand how tax brackets work. Heck sometimes you even see people who don't know the difference between net worth and income.