The very idea that once a mortgage is paid there should be no more property taxes is not only absurd, but illogical. Of course, you always own your home, mortgage or not, just as you own your car, loan or not.
Consider these rough averages. The mortgage payment is the major monthly cost for a homeowner. Once there is no mortgage payment, the property taxes is much more affordable.
In the average example here, the monthly expense goes from $2,575 to $275 thus staying in one’s home becomes more, certainly not less affordable.
Combined monthly cost estimate (national average):
- Mortgage P&I: ~$2,300
- Property taxes: ~$275
- Total: ~$2,575/month
Property taxes provide a more stable revenue source to run schools and a community than sales or income taxes. They have been used since around 1844.
It should also be clear that exempting one group from taxation shifts a greater burden to others.
Of course, it should have been obvious that exempting tips, some overtime pay and Social Security benefits from income taxes did the same thing and also accelerated Social Security insolvency.
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This is accurate that exempting a dollar from tax means another dollar must be taxed more in the most simplest sense. It is also true that Democrats can create exemptions on par with Republicans if not better. Their preferred method however is to provide benefits to certain groups.
I’m not a reader of Social media but I’ll say it’s probably balanced between those who would like tax cuts and those who would take any offered freebie.
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