Property Taxes!What If Dollar Crashes?

You're right, property tax will be a problem. We never truly own our land, because if we don't keep the property taxes paid, we lose all we worked for, even if the debt/loan/purchase price has been paid in full.

Our goal is to keep enough cash on hand to cover the taxes for a couple years, but that's not a long-term strategy, and it doesn't cover large increases in the tax bill.

If it was that bad, the whole nation would probably pretty much be to the point where most people couldn't pay their property taxes. It's possible there would be too much paperwork and processing to kick everyone off their land, and no one would have the money to buy the tax-defficient properties, and they'll come up with some other plan (the people "donating" work to the government in lieu of taxes or some other awful plan?).

If it 'falls' completely, property tax might be a moot point, but it's best not to rely on that possibility. It's just not likely enough.

We could face the possibility of having to leave our land. It would be a hard life, living by foraging, hunting, and fishing.

:scratch

 

Just another form of prepping. That is one of the reasons many people include silver and gold in their preps. The lower the dollar goes the higher silver and gold goes.

 

If the bottom falls out where there's significant unemployment, the government workers will be in the same unemployment boat. If there's no government workers to provide the services you pay taxes for (e.g. road clearing/paving/patching, schools, street lights, fire/police protection...) I would hope a judge would say that there's no taxes due since no services are being provided. That's what I'd hope, but will keep a nest-egg of sorts to cover taxes anyway.

 

I suggest you move to a state like Texas where your property can't be taken for lack of payment of property taxes.

If you are in arrears, they keep track and charge interest but it can't be taken unless you die or sell it to someone else. Very civilized in my opinion.

 

Not all gold was given up when they confiscated it. Kinda hard to confiscate something they do not know you have. Same with food. If you don't tell everyone what you have they will have a hard time taking it from you.

The people who bought homes for a place to live are not doing that bad. Buying a home for an investment is just like buying anything for an investment. You win or you loose. Just a matter on how much a person knows about investing. Investing in a home isn't any different than investing in the stock market. You can loose and you can win.
A person who buys a home for what is was meant to be, a home, has no worries about rising or falling home prices.

 

My dh came home upset a few weeks ago because he heard or read that unpaid taxes were being paid by wealthy entities from other states and kicking homeowners off the property---it takes a lot to upset dh..:ignore:

Glad to hear of the great resolution in Texas.:congrat:

 

During the Depression, millions of people lost their property (and businesses) because they couldn't pay the taxes. They keep track of it.

 

"and no one would have the money to buy the tax-defficient properties"

I didnt think they could actually take your land for not paying taxes, but at least in Maryland, I know they sell your property tax bill at auction, and if I understand it correctly, the buyer can charge you a set interest rate (5%?), and it is a lein against your property preventing you from ever selling it before its paid off.

 

No offense taken. I'm frustrated also with what's going on.

 

just like the great depression, the County will own a lot of land in a few years

 

They can and will take it in Montana.

The government knows that the best way to collect taxs is to go to the person who has the most to loose. That's why employers withhold your income taxes because it makes the government's job of collection easier. The same with sales taxes, fuel taxes, inventory taxes, etc. ... they can go after businesses for not paying it. That way the employers and businesses are tax collectors for the government and it simplifies the government's collection efforts. Property taxes are a good deal for the government because there are fewer property owners to go after and the property owners have too much to lose to be delinquent in their taxes.

If every person was required to pay their income taxes and SS directly from what they took home there'd be an instant, nationwide tax revolt. We have no state sales tax in MT and are always shocked at how much tax is paid on every purchase when we travel. Yet the locals never give it a thought. It's just become routine to them. Kind of like letting the camel get his nose inside the tent. You give a little ... they take it all.

 

In MS, if you prove severe disability or reach age 65, no land taxes. I have 8 more yrs to pay them on the retreat. I own it free and clear.

Not telling anyone what to do, but down the road if it gets that bad and they come to take mine for some reason, you will see me in the paper....:ignore:

Just saying

Jimmy