Do Americans have to pay tax for their real estate every year?

[Colin McGregor]

i find it ironic that you did not mention the sky-high taxes in Canada for everything to satisfy the socialist lust our government (especially our provincial govt) has :laugh:

its not that bad. No where near as bad as over in the US. Plus if you ever win the lottery you don't lose half of it to the gov. 14% is nothing considering our taxes earn us benefits. Sure I would love if welfare was controlled so I don't feel like some of my money is going to drug addled deadbeats (I know most welfare users need it but I also know ALOT of people that don't), but free healthcare is worth it (hell the free abortions alone has saved me ALOT of money) plus the fact our minimum wage is much higher evens it out. My friend in the states is making like $7 an hour, f that I would never work for less then 10 (with my degrees I wouldn't get outta bed for less then 25 but before that 10 was it).

[the evn show]

Removed

[threetonesun]

We have a pizza tax here. :laugh:

It could be worse, it would be perpetually renting from the state, as described in this thread, or Feudalism if we didn't pay property / estate taxes.

[Nothing Here]

We pay 0.8% per year on our. Which comes to just over 1300$ a year.

[PGHammer]

Such a system is unworkable and broken - just look at the property bubble in China and the incentive for the local government to keep an unsustainable bubble going via the ever increasing one off taxes that roll in. Reminds me very much of the situation in Australia with their stamp duty to the point that when the housing market collapsed the results were pretty horrific to local government budgets. I also have to ask what problem is such a Chinese system mean to solve? As for local taxes - you pay council rates to pay for water/roads/etc. so these taxes are hardly onerous.

Whether it's centrally managed or locally/regionally-managed, ANY bureaucracy dependent on tax revenues will be somewhat dependent on the largest sources of those revenues.

That same dependence issue is why the housing-market collapse savaged so many states - it wasn't JUST mortgages winding up submerged that inspired walk-aways; it was tax liens in HPT (high property tax) states that inspired a few as well. (The Florida real-estate market - as was the Texas real-estate market when the thrift collapse happened - are cases in point.) It's also why the central theme of the Ryan Plan last year - elimination of the vacation-home deduction for AMT filers - was attacked by not JUST the NAHB and NAR, but the National Association of Counties - counties, townships, and municipalities (cities) depend the MOST on real-estate (personal-property) taxes for operations income, as most don't have authority to charge a piggyback sales tax.

[Packet1009]

its not that bad. No where near as bad as over in the US. Plus if you ever win the lottery you don't lose half of it to the gov. 14% is nothing considering our taxes earn us benefits. Sure I would love if welfare was controlled so I don't feel like some of my money is going to drug addled deadbeats (I know most welfare users need it but I also know ALOT of people that don't), but free healthcare is worth it (hell the free abortions alone has saved me ALOT of money) plus the fact our minimum wage is much higher evens it out. My friend in the states is making like $7 an hour, f that I would never work for less then 10 (with my degrees I wouldn't get outta bed for less then 25 but before that 10 was it).

Winning a lottery is a singularity. I wouldn't even use that in a day to day comparison.

What's the 14%? Do you refer to the 13% PST + GST in ON?

My view is that that just about everything costs more here.

Not trying to fight this out - I'm just confused as I was recently in the US for a while and the cost comparison versus back here at home was quite a shocker - in the sense, that things in the US were a lot cheaper - including taxation.

And there are write-offs available in the US that are not available here in Canada - mortgage interest being one.

Having said this, and in an attempt to keep on topic, my real estate tax here in ON is going up for no discernible reason whatsoever.

This Chinese system of a land-lease of 70 years is just a bridge to the future, it seems to me anyway. I'm quite glad I don't have to suffer such a system.

[Skin]

Having said this, and in an attempt to keep on topic, my real estate tax here in ON is going up for no discernible reason whatsoever.

My real estate tax in the US went up by almost 2k this year... due to what the area says is based on the falling property value and residence in the area in the last two years, etc....

so, in other wards, people left the area, property values are leveling from previous over-jacked amounts, people lost jobs, etc, so you need to raise the remaining folk's taxes to cover a bloated budget rather than leave things alone and re-balance your money spent and projects that you have going... brilliant.

That and the increase in taxes at the federal level are crippling, to say the least.

[nukenorman]

Well in America as most educated people know its not free. You CANT OWN property in America. You can own everything that is on top of the land but you cant own the land. You have to rent from the goverment forever by paying property taxes. So you are always a renter from the US gov. Texas is the only state in USA that you can actually own land and not rent from the goverment. When Texas was its own country it was a condition made before they jioned the republic.

Thus the owner of your property is the US goverment and they can do whatever they want. Until Americans wake up and actually fight back so they can have some basic rights in that country they will always be walked over by the government. There is a saying that Americans have the guns but they never have the guts to actually use them and its why USA is always ranked one of the worst industrial countries to live in. No right to healthcare, very high on the corruption index the gov is, no workers rights such as no right to a paid holiday ( only a privladge in usa ) but the rest of the developed word and even 3rd world countries have right to paid vacations usually 4 or 5 weeks. Also most countries you can not be forced to work over 40 hours a week but in USA employers can work you 100 hours a week or more if they wanted too. The list goes on and on. Dont let the low tax rate in USA fool you wich many Americans fall for. Study after study when you look at the BIG picture Americans pay one of the highest taxes in the world but you have to look at the BIG picture. Sadly 99 percent of Americans can not compare and contrast as they do not know the tax systems in other countries and what you get etc etc.

[Stetson]

Well in America as most educated people know its not free. You CANT OWN property in America. You can own everything that is on top of the land but you cant own the land. You have to rent from the goverment forever by paying property taxes. So you are always a renter from the US gov.

But your property taxes don't go to the US government, they generally go to your county government. Local government is what sets property tax rates and collects those taxes.

[Skin]

But your property taxes don't go to the US government, they generally go to your county government. Local government is what sets property tax rates and collects those taxes.

Which just means the government in ALL forms, can take your property when they deem fit.

[Growled Member]

I have to pay taxes for my car in the form of a license plate. I pay sales tax on everything I buy. They get a part of my paycheck before I ever see it. What's one more tax?

[neufuse Veteran]

I have to pay taxes for my car in the form of a license plate. I pay sales tax on everything I buy. They get a part of my paycheck before I ever see it. What's one more tax?

Just wait for the "paycheck recieval tax" the "direct deposit tax" the "just becase tax" the "you are alive tax" the "air tax" the "food tax" the "sex tax"

[ANON86364]

Which just means the government in ALL forms, can take your property when they deem fit.

Thanks to the Eminent Domain part of the Fifth Amendment, the government must give you "Just Compensation" for your property for "public use". This doesn't mean there aren't shady dealings where the private sector has "taken" land from citizens through the government. Just another example of corruption left unchecked.

[Jason S. Global Moderator]

i dont really see the point of saying that Americans own their property. to me, it's more like we rent the property. you still have to pay tax (rent) and you still cant do whatever you want w/ the land. you cant simply start digging or building what you want b/c you have to get a permit from the city. a lot of neighborhoods have certain rules about how your home or property looks. on top of all that, the Fed Govt has the power to declare imminent domain and seize your property.

We pay 0.8% per year on our. Which comes to just over 1300$ a year.

wow you have it great! in my city, the property tax is 2.72%. the average tax in Northeast Ohio ranges from 2-3%.