Originally posted by RiverRat1
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Situation....
You buy your house that is worth 100k @ 3% tax so $300k per year
You make $50k when you bought said house.
3 years later you get a promotion and make $150k and folks flood your city.
Your house is now worth 200k but the city can only increase your taxable value by 10% so instead of $6k taxes the city gets $3300 from you.
The city needs to hire more staff because of all the additional people in the area but now the city must offer more money to entice new talent.
Thus increasing the city's budget but the tax base isn't keeping up Because you're not paying your fair share of taxable value on your $200k home.
This is a very simplistic view but how things can happen.
Think about those homes in Garden Oaks/Oaks Forest that have had residents in them for 30 years But the city can't get the full value for property taxes because the residents have been in there so long or they are over 65 and get exemptions.
I understand and feel your pain
Only thing we can do is ditch the property tax and go to income tax but then folks will complain that welfare queens don't pay their share
Maybe do a 2% income tax and halve all of the property tax rates so we can hit all angles
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