The value of the land was down The value of the structure was down My proerty tax went up. I kid you not . . .
Well I'm pretty sure Obama didn't have anything to do with this tax year . . . but I guess I should expect more of the same next year. BTW-did this happen to anyone else?
Yep, I'm in Vancouver and the same thing happened to me. The more liberal states are running out of money to pay for social spending. Property taxes will always go up- even when the value of my property has dropped 20%.
I'm pretty sure Obama has nothing whatsoever to do with property tax rates, and still won't after he's President. Property taxes are local, not federal. Not that you didn't know that already. barfo
Actually, it's mainly a local issue. Property taxes in Oregon primarily fund schools, city and county government, libraries, bond levies, etc. The reason they can go up even when your property values go down is that the amount of the total taxes funded through property taxes doesn't change simply because the housing bubble has popped. That total amount of taxes is divided by the total value of property in each assessment district to come up with a millage rate. Because the total value of property has gone down, the millage rate has increased proportionately. When you multiply that rate times your home's lower value, the amount of your taxes may actually increase because the total property taxes approved by voters or simply allowed through budgets, probably has increased.
Unless he's making over $250,000 then he shouldn't worry. Of course I really have no idea what the entire plan is. My taxes went down, should I think Obama for that, or should I find somebody else to blame? Land went up, structure went down, taxable value went up, my overall taxes went down. I'll take it. Still too high, IMO, but I've got 3 kids and ride public transportation every once in a while so I'll be seeing the value of my tax dollars at work. Education taxes=932.17 General Gov't Taxes=1559.88 Misc Taxes=298.22
Yep, that's what he says. Of course, he's not counting the Bush Tax Cuts expiring as a tax increase, nor is he adjusting for inflation the income levels of the Clinton taxes. By CPI, $250K in the early 1990s would be $338K today, but the line is still drawn at $250K. And that's of course if you take him at his word. My guess is he's going to look at the tax income landscape and realize he has two choices: not go through with his programs or lower some of those income figures. Games with numbers are fun.
I have a feeling that Obama will increase taxes on investments, such as the capital gains tax and dividend taxes. Just a hunch, who knows....I think there will be taxes in other arenas that will be numerous.
Well, then you are paying property taxes, you are just paying them indirectly via your landlord. barfo
