My mortgage has gone up like $300 in the last 14 years due to taxes & insurance… but if I were still a renter it’d have gone up by $1000 (or more?) so I’m not complaining.
I mean, my house value quadrupled during that time, so it’s kinda fair that I’m paying more property taxes. As for the insurance… I gotta admit I haven’t paid much attention.
Unless you are selling the house (which still means you have to buy another one…) it’s paying for unrealized gains which the rich fucks making the rules tell us is so unfair whaaaa whaaaa whaaa (insert child crying noises here)
On the contrary: as a single-family homeowner, I’m being massively subsidized compared to the amount of city services and infrastructure I consume. (It could be worse: I could have a large lot in a car-dependent suburb instead of a small lot in a streetcar suburb and therefore be even more of a leech – i.e., like those rich fucks you’re talking about – but still, I’m definitely not paying my fair share of taxes.)
If you want to know who’s really getting ripped off, it’s all the renters in dense apartments. Not only are they paying extra so their landlords can profit, they’re paying even more because they’re the ones funding the subsidy for single-family homeowners like me. Basically, I’m exploiting them via the skewed way property taxes are assessed. Thanks for funding my privileged lifestyle, people too poor/unluckly to be able to buy a house! 🤑
(But seriously, it really is very unfair and we need to reform the property tax code and, even more importantly, the zoning code.)
It is so messed up how every part of our society is secretly tuned to make being poor trapped yet every rung up the ladder to being wealthy, the journey gets a little easier by hidden subsidies like this.
The problem is that property value of homes has nothing to do with cost of building out city services. In many areas the value of homes is going up much faster than the cost of maintaining the roads and services around them.
Property taxes should be tied to things like acreage, road access, zoning type, and the city’s budget. Not the free market value of the home, which is unrelated.
Housing prices have gone up roughly double in the last 10 years, while inflation has only gone up 35%.
It is extremely unfair to single homeowners to be paying for the housing demand increase, and I say this as someone who’s only able to rent. Those property taxes get passed right along to me through rent increases.
The saddest part is the beefy 5 layer burrito being what people that worked at Taco Bell would order and ask for it grilled for a reasonable cheap meal to now resulting in “WTF is there any ground beef here? WTF is there real cheese? Are these ‘beans’ safe to consume?”
Edit: my friend who previously worked there when in college asked if it was even beans on the thing…
My car insurance has doubled in less than 8 years. But don’t worry, it has less coverage too! Oh, but I’ll get a teeny tiny discount if I let them install a lowjack!
Yes, your escrow can go up that much if your property tax, school tax, or in some cases insurance had a sudden jump in value or changes in what can be claimed. It varies by area and loan, but isn’t unheard of.
interesting, based on Zillow info my house doubled in price in the last 5 years, but my escrow only went up $20 in that time, mostly insurance, don’t tell my county tho 😂
I don’t know what’s sadder the giant Safeway sandwiches going from $9.99 to $13.99 or my mortgage about to go up like 200 goddamn dollars…
My mortgage has gone up like $300 in the last 14 years due to taxes & insurance… but if I were still a renter it’d have gone up by $1000 (or more?) so I’m not complaining.
You should complain. We’re all getting ripped off.
I mean, my house value quadrupled during that time, so it’s kinda fair that I’m paying more property taxes. As for the insurance… I gotta admit I haven’t paid much attention.
Unless you are selling the house (which still means you have to buy another one…) it’s paying for unrealized gains which the rich fucks making the rules tell us is so unfair whaaaa whaaaa whaaa (insert child crying noises here)
On the contrary: as a single-family homeowner, I’m being massively subsidized compared to the amount of city services and infrastructure I consume. (It could be worse: I could have a large lot in a car-dependent suburb instead of a small lot in a streetcar suburb and therefore be even more of a leech – i.e., like those rich fucks you’re talking about – but still, I’m definitely not paying my fair share of taxes.)
If you want to know who’s really getting ripped off, it’s all the renters in dense apartments. Not only are they paying extra so their landlords can profit, they’re paying even more because they’re the ones funding the subsidy for single-family homeowners like me. Basically, I’m exploiting them via the skewed way property taxes are assessed. Thanks for funding my privileged lifestyle, people too poor/unluckly to be able to buy a house! 🤑
(But seriously, it really is very unfair and we need to reform the property tax code and, even more importantly, the zoning code.)
It is so messed up how every part of our society is secretly tuned to make being poor trapped yet every rung up the ladder to being wealthy, the journey gets a little easier by hidden subsidies like this.
The problem is that property value of homes has nothing to do with cost of building out city services. In many areas the value of homes is going up much faster than the cost of maintaining the roads and services around them.
Property taxes should be tied to things like acreage, road access, zoning type, and the city’s budget. Not the free market value of the home, which is unrelated.
Housing prices have gone up roughly double in the last 10 years, while inflation has only gone up 35%.
It is extremely unfair to single homeowners to be paying for the housing demand increase, and I say this as someone who’s only able to rent. Those property taxes get passed right along to me through rent increases.
TL; DR: Just. Tax. Land!
The saddest part is the beefy 5 layer burrito being what people that worked at Taco Bell would order and ask for it grilled for a reasonable cheap meal to now resulting in “WTF is there any ground beef here? WTF is there real cheese? Are these ‘beans’ safe to consume?”
Edit: my friend who previously worked there when in college asked if it was even beans on the thing…
My car insurance has doubled in less than 8 years. But don’t worry, it has less coverage too! Oh, but I’ll get a teeny tiny discount if I let them install a lowjack!
My car insurance went up like 20% from last year to this year. Exact same shitty “coverage” as before.
Yep mines about to go up $200 because my insurance is over $1,000 more this year.
escrow went up that much?
Yes, your escrow can go up that much if your property tax, school tax, or in some cases insurance had a sudden jump in value or changes in what can be claimed. It varies by area and loan, but isn’t unheard of.
interesting, based on Zillow info my house doubled in price in the last 5 years, but my escrow only went up $20 in that time, mostly insurance, don’t tell my county tho 😂
At least you’re not just throwing away money like those of us who have seen rent double in 3 years.
My retirement plan is a intentional heroine overdose.
As a renter, I don’t pity the mere $200 increase you’re dealing with.
How do you have a mortgage change price? I don’t get that? Both of mine haven’t ever changed.