patrick.net

Ceffer says

Your unrealized withholding may be more than you can afford to keep the inflated asset. It isn't really a withholding, it is tax extortion (government downpayment tax lien) against your asset, since it is money that is sacrificed and doesn't work for you.

Exact same can be said about your income tax withholding. Income taxes you owe are not considered an indirect tax (transaction) but a direct one, like applied to other assets.

The 16th Amendment didn't change that definition. It only exempts direct taxation of it from the Apportionment Clause.

WookieMan says

Your house isn't taxed until you sell it.

Odd, because my property taxes just went up over $2,000 per year based on houses in my county being reassessed to sync with inflation.

HeadSet says

Odd, because my property taxes just went up over $2,000 per year based on houses in my county being reassessed to sync with inflation.

That is one thing California has over most of the rest of the nation, Prop 13.

HeadSet says

WookieMan says

Your house isn't taxed until you sell it.

Odd, because my property taxes just went up over $2,000 per year based on houses in my county being reassessed to sync with inflation.

Tax on the sale. Don't be that obtuse to act like you didn't know what I was talking about. I said the word sell.

Also $2k increase in a year means you are living in a $2-3M house regardless of state. That shouldn't be a big deal in that case if you can afford that house. Even on that expensive of a house $2k would be a lot in one year coming from someone in the 2nd highest property taxed state. Not buying it unless there was a major school district referendum or something.

WookieMan says

Also $2k increase in a year means you are living in a $2-3M house regardless of state.

WRONG

WookieMan says

Not buying it unless there was a major school district referendum or something.

WRONG AGAIN.

You do not know what you are talking about.

Here is the assessment for a neighbor's house very similar to mine:





Notice that the taxes went up over $2,200 because his assessment increased by $340,400. This assessment is entirely from inflation. Mil rate actually decreased by one penny from .84 per hundred to .83.

Not inflation, but devaluation of the dollar…

ForcedTQ says

Not inflation, but devaluation of the dollar…

Isn't that what inflation is, the devaluation of the dollar?

ForcedTQ says

Not inflation, but devaluation of the dollar…

Devaluation of the dollar only impacts the dollar price of other currencies.

And since nobody pays their property tax in pesos or euros....

DOGEWontAmountToShit says

Devaluation of the dollar only impacts the dollar price of other currencies.

A devalued dollar buys less of everything, such as gas, food, property, and other currencies.

HeadSet says

A devalued dollar buys less of everything, such as gas, food, property, and other currencies.

Nope. It is a term reserved for currency exchange prices.

And the dollar is trading higher, not lower.

And it will probably go even higher if Trump manages to put a real dent in imports.

HeadSet says

WRONG AGAIN.

You do not know what you are talking about.

Here is the assessment for a neighbor's house very similar to mine:

I do. And not wrong. I'll keep it short. Did you appeal you tax assessment? If you didn't you're wrong. Appeal and you'll learn.

HeadSet says

WookieMan says

Also $2k increase in a year means you are living in a $2-3M house regardless of state.

WRONG

WookieMan says

Not buying it unless there was a major school district referendum or something.

WRONG AGAIN.

You do not know what you are talking about.

Here is the assessment for a neighbor's house very similar to mine:





Notice that the taxes went up over $2,200 because his assessment increased by $340,400. This assessment is entirely from inflation. Mil rate actually decreased by one penny from .84 per hundred to .83.

Next time you people decide to shit on California and our Prop 13 - remember, we have both THE WEATHER and THE PROP13. 🧌

RWSGFY says

Next time you people decide to shit on California and our Prop 13 - remember, we have both THE WEATHER and THE PROP13. 🧌

And higher prices because of it. If you made gains and realized them, awesome. You can't buy in CA and live even remotely affordably. You have an exodus. The prices will drop. I'm not a housing doomsday guy, but it's coming for you guys if you own and a bunch of hipster cities outside the state.

WookieMan says

Did you appeal you tax assessment? If you didn't you're wrong. Appeal and you'll learn.

You are wrong again. I spent an hour on the phone speaking with the county assessor himself. He knew every detail about my house and my assessment was not going to change. We had a very civil conversation about my assessment and other real estate issues.

RWSGFY says

Next time you people decide to shit on California and our Prop 13

I do not blame California, and I think Prop 13 was necessary because of the unique rapid house price increases in that state. I blame Bidenflation that raised the prices of everything including my local assessment. No point in shitting on California, as you have plenty of street dwellers taking care of that.

Prop 13 Ponzi scheme doesn’t save new buyers to pay 20 to $50k property taxes in bay area, a 100 times higher than the previous owners!

Blue says

100 times higher than the previous owners!

Which would be the case in every other state.

We were talking about property tax increases inflicted upon current owners.

DOGEWontAmountToShit says

HeadSet says

I blame Bidenflation that raised the prices of everything including my local assessment.

They both contributed equally: first $2.1T under Trump and then $1.9T under Potato.

WookieMan says

And higher prices because of it. If you made gains and realized them, awesome. You can't buy in CA and live even remotely affordably. You have an exodus.

There is an exodus from Chigago too. The head of Citadel just sold his penthouse for 40% loss. (Went on Tee Vee to rant how Pritzker ruined Illinois and caused him great loss and then it came out that he sold it to Prizker himself, LOL). Houses on the North Shore are selling for what they were bought in the fucking 90s. Not adjusted for inflation but literally the same genearl dollar amount. And they were paying MOAR in property taxes all this time than poor victims of Prop13, LOL. Condos in high-rises seat unsold for 5 years with some buildings are only 20% full. It must feel great. But they are still fleeing from such a paradize... Inexplicable!

Lol the scrolling text on the bottom says record breaking TB epidemic which is from illegals.

Eric Holder says

HeadSet says

I blame Bidenflation that raised the prices of everything including my local assessment.

They both contributed equally: first $2.1T under Trump and then $1.9T under Potato.

Odd that the inflation did not kick in until Biden was in office:

RC2006 says

Lol the scrolling text on the bottom says record breaking TB epidemic which is from illegals.

I caught scabies from a hotel in Austin recently. I'm pretty sure it was because illegals had been staying there. I was there with my mom for a funeral if anyone has any wise ideas.

Fortunately I had a stash of ivermectin and boric acid.

I still remember my first official paycheck and the shock of seeing all the withholdings AND teamster dues taken out of the paycheck. I was told never to step foot in the teamster union meetings or they would physically beat me up and throw me out.

Ceffer says

I still remember my first official paycheck and the shock of seeing all the withholdings AND teamster dues taken out of the paycheck. I was told never to step foot in the teamster union meetings or they would physically beat me up and throw me out.

Yeah. That's when the Mafia ran the Teamsters, right?

DeportLibtards says

Yeah. That's when the Mafia ran the Teamsters, right?

LOL! You mean they don't any more?

HeadSet says

WookieMan says

Did you appeal you tax assessment? If you didn't you're wrong. Appeal and you'll learn.

You are wrong again. I spent an hour on the phone speaking with the county assessor himself. He knew every detail about my house and my assessment was not going to change. We had a very civil conversation about my assessment and other real estate issues.

I'm 100% right. The county assessor has no interest in lowering your taxes. It's not about the details of your house. It's comparable sales and how they're taxed. This is first hand experience. I've done it myself 3 or 4 times. I usually get them lowered or at least stay the same. Can't tell me I'm wrong when I've done it.

I studied to be an attorney, was a broker for 15 years and have/had 2 lawyers in the family and know a boatload of others. Just because this "was" a real estate centric forum doesn't mean anyone knows shit about it. I do.

WookieMan says

I studied to be an attorney, was a broker for 15 years and have/had 2 lawyers in the family and know a boatload of others. Just because this "was" a real estate centric forum doesn't mean anyone knows shit about it. I do.

Except pretty much everything you declare to be universal truth is based upon your experiences in DumFuq, Rural Illinois.

Not always. Sometimes you catch yourself and add a provisons like 'Dunno about Dipshit California, but in my neck of the woods...'. Which is great. But your default is not that mode.

Relevance to this? In other states, success in appealing property tax assessments have different results. From harder to easier relative to your local WookieMan space time continuum.

This time HeadSet could also be guilty of the same thing, too. Sometimes I am.

But YOU, Wookie are the Poster Boy when it comes to this, hands down.

DeportLibtards says

This time HeadSet could also be guilty of the same thing

How? I am talking about my own area, not anyone else's.

WookieMan says

It's not about the details of your house. It's comparable sales and how they're taxed.

Of course it is about the details. Details like number of rooms, square footage, number of baths, and size of garage all come into play. If one gets a permit and adds a finished room in a basement the assessment the following year will be increased. Such details, along with location, are used for that market comparison with other houses.