Economy
Related: About this forumProperty taxes enhance private value
http://www.eoionline.org/blog/property-taxes-enhance-private-value/
I start fretting in August about paying the second half of my property taxes in October. I worry that I will forget to pay (as I have done), and get penalized (as I have been). So I decided to pay early and not worry about it. And, as you know, it can be a big chunk of money.
Thats probably why people have a knee-jerk reaction to property taxes. They see it all at once. My son and I were talking about this. He is comfortable with sales taxes and income taxes. These taxes are on transactions, in some ways discretionary, although a lot of purchases are not actually discretionary think of underwear, for example!
We each benefit when we receive income from work, or from not doing anything (that would be income from stocks, bonds, capital gains, estates, etc.) A tax on these transactions of earnings and unearned income makes a lot of sense.
But my son wondered about property taxes. First I reacted as readers would expect me to, saying that taxes enabled the maintenance of a democratic civil society and a quality of life that we all enjoy to one degree or another. I didnt dissect the type of tax or its jaggedness with intuitive expectations. But then I actually thought about property taxes and realized that property taxes dont just slice away value from property we already own. These taxes actually add value to our property, making this property easy to sell for higher prices in the future, and building the tangible benefits embedded in that property.
KT2000
(20,581 posts)that is how the counties in Washington operate. We would be driving on dirt roads - if that. And much more.
SheilaT
(23,156 posts)because they are renters or are paying off a mortgage, which has the property taxes included in the mortgage payment. But I have been in the situation where I've owned a home outright and had to remember to pay property taxes when they come due.
I wonder if more progressive places don't allow a monthly payment from a checking account, to make it a little less painful.
I do get tired of hearing people -- including many here on DU -- who are willing to do anything at all to minimize their taxes. As if they've never benefitted from them.
canoeist52
(2,282 posts)Wreaks havoc with my ADD brain, trying to remember to write the checks as they send packets only twice a year. I sometimes pay early too! Hate those late fees.