Are property taxes stopping many from home ownership

[frazzled]

26. I don't think so

While property taxes are quite high where I live (a major city), and have been in previous places I've lived, there are many reasons why I--and all who claim to be liberal--should support them. This is how we pay for "police, parks, streets, schools, community colleges, public hospitals, elections, courts, jails, mosquito abatement, sewage treatment," etc. Here's a typical (though somewhat outdated) graph of how my property taxes are allocated:



Lowering property taxes means cutting services--services that affect all of us but mainly the poor. I would prefer if my state would generate more revenue (and give some back to the cities) through a progressive income tax (ours is a flat rate tax). But short of that passing, I don't want to see programs cut. And believe me, what will get cut first is always things like mental health programs, homeless shelters, after-school enrichment programs, etc.


Mortgage interest rates are very low right now, and rents are very high. If you are a renter and think you aren't paying your landlord's property taxes through your rent, you are probably naive. Frankly, I think that a mortgage + property taxes is equivalent to rents right now. Property taxes can take less of a bite if you arrange to have your taxes paid monthly into escrow to your mortgage payment. It can be tough coming up with thousands and thousands at once, but less problematic to allocate for them into your monthly payments.

In most places, seniors get a significant discount--though sometimes not enough to allow them to stay in their homes--on their property taxes. I'm not sure what the answer is. When I'm older and on a fixed income, I feel I should be moving to a smaller, more efficient place anyway. But we'll see.