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In reply to the discussion: Note To Bloomberg: Like A Lot Of People, I Own A House. And Every Year I Have To Pay... [View all]csziggy
(34,139 posts)32. Another comparison is homestead exemption
While more expensive homes incur higher property taxes, modest homes have their lesser value set off by homestead exemption. In Florida, where I live, a $25,000 exemption is applied to the first $50,000 of your property's assessed value if your property is your permanent residence and you owned the property on January 1 of the tax year. This exemption applies to all taxes, including school district taxes. The median home value in Florida is $231,000.
Today, if you want to buy a home in Florida, the average sales price is $200,000 according to realtor.com. But home prices vary greatly by county. According to zillow.com, the median sales price in Monroe County is $409,000, while the median sales price in Hardee County is just $50,000.
https://smartasset.com/mortgage/the-cost-of-living-in-florida
So in some counties many of the homeowners pay much less tax than others.
This is a way to look at only assessing ultra wealthy taxation that people with fewer assets have to pay.
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Note To Bloomberg: Like A Lot Of People, I Own A House. And Every Year I Have To Pay... [View all]
TrollBuster9090
Jan 2019
OP
The wealthy need to pay a yrly tax on their wealth,on stcks, bonds,wealth held in Banks.
onit2day
Jan 2019
#72
Indeed, an awesome rant. I love the blurb about wealth taxes and that we need on the ...
SWBTATTReg
Jan 2019
#4
Thanks! It's amazing, isn't it? They spout this fake analogy of a 'socialist' country every day
TrollBuster9090
Jan 2019
#14
Sadly, the talking heads DON'T push back on the Nazi claim. Not on Fox, anyway.
TrollBuster9090
Jan 2019
#25
OMG !! That is the best thing ANYBODY has wriotten on the ole DUer in years !!!!!!!!!!!!!
pangaia
Jan 2019
#18
Capital gains is more like 35 1/2% in CA (including Federal tax) for high incomes
BSdetect
Jan 2019
#20
I'm not familiar with California (other than the fact that it's a fantastic State), but I checked
TrollBuster9090
Jan 2019
#28
Oh, pleeez. Who is going to do all that valuing? The college grad IRS agent?
Honeycombe8
Jan 2019
#68
When I first did tax returns in the early 80's in Ohio there was a personal property tax.
wasupaloopa
Jan 2019
#51