Yipee Lower Taxes

[9162]

Originally Posted by dcisive

I love it when our beloved state decides to do what other states have gone in the opposite direction of. Lowering the burden of property tax to us owners. Bless their hearts. One thing that the governor apparently resisted on was some alteration of some dates in which those annoying school bonds keep getting foisted on us as they do like a bleeding open wound that never heals. A never-ending leak, and it got old.

https://www.idahopress.com/news/loca...efe45533d.html

Are you sure? Real estate assessments are going up. That could be why the rate per thousand goes down.

[dcisive]

Real Estate Assessments have gone in ONE direction......DOWN. I have no idea what planet your living on. So I still view their move as a positive for those of us that don't have boat loads of $$$

[AnythingOutdoors]

Originally Posted by dcisive

Real Estate Assessments have gone in ONE direction......DOWN. I have no idea what planet your living on. So I still view their move as a positive for those of us that don't have boat loads of $$$

Real estate assessments don't directly determine property tax bills in Idaho. We have a levy based property tax system, which means your bill can go up even if values decline, and vice versa.

Here's a good explainer video:

https://www.youtube.com/watch?v=J7pCfAdYPzU

Generally speaking, taxing district budgets determine changes in tax bills. So if you want taxes to stop increasing you need to vote in people that will set lower budgets.

[dcisive]

Yeah no kidding. The taxing methods are about as absurd as one can get. Nothing quite like having LESS money and they want more of what you don't have.

[AnythingOutdoors]

I actually think Idaho's levy based property tax system is the fairest I've seen. A rate based system -- directly set by assessed values -- unfairly exposes homeowners and taxing districts to the vagaries of market fluctuations. Whereas our levy based system is predictable and stable. Money for schools and local government has to come from somewhere, and our current system works very well. It's not perfect, and it could be improved. It looks like the state will expand the circuit-breaker program for those on a fixed income, which is a step in the right direction. I would also like to see a way for seniors and certain other groups to defer property taxes that get paid to taxing districts in the future when the property changes ownership.

[volosong]

Originally Posted by AnythingOutdoors

...I would also like to see a way for seniors and certain other groups to defer property taxes that get paid to taxing districts in the future when the property changes ownership.

Not sure what you're asking. There is already a program whereby low income seniors can defer their property taxes until such time that they either die or the property is sold. At that time the past due property taxes are paid from the estate or the (theoretical) gain in the property value.

[WRM20]

Originally Posted by dcisive

Yeah I get it. But there should be a cutoff for older folks being exempt from having to scrape up those funds. I think 65 would be a decent cutoff. It's fair and equitable and at least allows for seniors on a fixed income to have a spec better life that they deserve. They already paid their dues.

In Texas, your school tax amount is frozen the year you turn 65, and only increases if you move or make improvements to the house. My Mom pays about $500 in school tax, the amount they were paying when my Dad turned 65 30 years ago. In Houston, at age 65, we also get additional homestead exemptions on city and county taxes. My taxes will go down $3,000 because of the new exemptions. That all seems like a workable plan.

[GileadCommander]

If public schools didn't have such a bad reputation, I think people would be more willing to pay more in property tax.

You can't on one hand, demand unlimited tax funding and on the other hand, say parents have NO say in their kids' education.

[dcisive]

Sorry but I'm with WRM20 on this one. When I was in my 30's I still felt this way regarding exemptions for those that have entered their senior (and non-earning) years. I like the idea of a "freeze" for seniors. You can say all you want about it being an obligation. Paying one's bills on social security is an obligation as well. At that point it has near nothing to do with how great the schools may or may not be. At this time in my life I simply want to have a life, not have it treated like a financial punching bag for those in government that would like to nibble away at it. I didn't feel that way back when I had an actual weekly paycheck. Sorry but it IS different when you are in your senior age ranges. If you're a senior and have no issues throwing tax money at the government then good on you for having it to play with.

[banjomike]

Originally Posted by dcisive

Sorry but I'm with WRM20 on this one. When I was in my 30's I still felt this way regarding exemptions for those that have entered their senior (and non-earning) years. I like the idea of a "freeze" for seniors. You can say all you want about it being an obligation. Paying one's bills on social security is an obligation as well. At that point it has near nothing to do with how great the schools may or may not be. At this time in my life I simply want to have a life, not have it treated like a financial punching bag for those in government that would like to nibble away at it. I didn't feel that way back when I had an actual weekly paycheck. Sorry but it IS different when you are in your senior age ranges. If you're a senior and have no issues throwing tax money at the government then good on you for having it to play with.

I'm 78, soon to be 79.
I am getting more bennies for my taxes now than I got when I was working and paying more taxes.
If the government says mine are now my share is fair of a burden we all share for our lifetimes, I'm not too poor to pay them.

But I think everyone's tax bill is too high.
More efficient govt. programs could lower our tax bills and leave the benefits unchanged. I also think inheritance tax is a death tax and is the most unfair of all taxes.

Since seniors are in all of our income levels from the lowest to the highest, I doubt a freeze based on age alone would change anything.