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by 2022whoknew 1601 days ago
LMAO these are very low taxes. You have a $2.8 Million dollar house and expect what? It's a 1% tax. Also the lady saying the house hasn't been updated in 40 years: [News Flash] The house isn't what's valuable. It's the land that it sits on. That's why people are buying the neighbors land for MILLIONS of dollars, and knocking the house down. The lands value has probably grown 300%-400% since she moved in, but we're supposed to feel bad because she has to pay taxes on it.
1 comments

I can't read the article because bloomberg says it has detected unusual activity... If the person has been there 40 years, the person is very likely retired. Retired people might be on fixed income and so forth. 1% of 3 million is $30,000 per year. Compare this to other areas where property is cheaper and one might be paying $3,000 per year for property tax. I am all for paying fair taxes, but I think one should be able to continue living in ones home and not be forced out due to huge property tax increases. Not sure what the right balance is.
The city could offer the option of a reverse mortgage to cover the taxes ... you get to choose:

- pay the tax yourself,

- sell,

- live out your life in your home, but not pass it on.