You didn’t sell your home, you’re assessed a value, and then have to pay it.

If your house is assessed to be 500k higher than it was before, then you’d have to pay the tax on that.

Does that make sense? That they can decide how much your house is worth, and then charge you for it?

You didn’t sell your house, you didn’t leverage it for any money (if you did through rentals or airbnb, then you already paid that tax).

That’s like being taxed on how much stocks you own, like an unrealized capital gains tax.

Or being taxed on how much money you have in the bank, which is already losing value due to inflation controlled by the Treasury policy and Federal reserve.

So yea, property tax is a tax on unrealized gains.

If you buy the house, you pay the taxes, if you sell the house, you pay taxes. If you hold onto the house you pay the taxes. You’re getting doubly taxed.

You’re paying taxes on holding property using already taxed money. It’s arguably triply taxed.

In Closing

Property Taxes are inherently evil, you shouldn’t have to pay to live or exist. It already costs money to do anything, or even get paid.

This is all kinds of fucked.

Cheers

*Not Valid Financial, Legal, Life, or Any Advice