Most folks have a Mortgage on their property so.....
Even if the house is mostly paid for the BANK can still take ownership through foreclosure if the owner fails to pay the mortgage payments.
OK SON, so what if my property is paid for with no outstanding home equity loans or Mortgage's ?
Well , you still have to pay your property taxes (that notice you just got in the mail) or.... You will have a Tax Lien placed on your property which will mean
you cannot sell the property without paying this lien and may lose the property entirely after a certain period by state authorized auction of your property.
Also, If you belong to a homeowners association you can have a lien placed against your property for failing to pay special assessments.
Joining the "association" is not typically an option.
So at most you own the "right to keep or sell" the property but I would say
that you never truly own it because you must continue to pay tribute in the form of property taxes even if you paid millions of dollars for the property or it can be taken away from you.
I call that RENT. The state calls it property taxes.
Unless that's your understanding of what it means to own property.
A lot of civil workers are counting on that being your understanding.
So if you just need a place to live and are not interested in property for tax
reasons or for the desire to make a profit by buying, selling or renting property you may be better off renting.
Replies
28
Beach Fanatic
There are numerous other reasons for home ownership.....none of those reasons on my list are mentioned in your post. But my number one reason is sleeping better, knowing that I won't be moving until the homeowner=me says it's time to do so. Paying taxes is a part of participating in your community's services and development. I don't know of any homeowners that consider paying property taxes "rent".
SoWal Expert
SON must have received his new property tax assessment in the mail today too.
Beach Lover
Taxes stink but if no one paid them, how could we survive as a community? 
Idea! We can add discretionary taxes and make tangible purchases pay for our streets, fire department, etc. It would be good for landowners if every tangible purchase contributed the county budget.
Then again, no one would shop here and we'd be stuck paying it ourselves.
Death and taxes.... *sigh* Any suggestions or county volunteers?
Idea! We can add discretionary taxes and make tangible purchases pay for our streets, fire department, etc. It would be good for landowners if every tangible purchase contributed the county budget.
Then again, no one would shop here and we'd be stuck paying it ourselves. Death and taxes.... *sigh* Any suggestions or county volunteers?
SoWal Insider
Most folks have a Mortgage on their property so.....I say the folks who bear the responsibility of ownership should have the only voting rights come election time. Who said that first?
Even if the house is mostly paid for the BANK can still take ownership through foreclosure if the owner fails to pay the mortgage payments.
OK SON, so what if my property is paid for with no outstanding home equity loans or Mortgage's ?
Well , you still have to pay your property taxes (that notice you just got in the mail) or.... You will have a Tax Lien placed on your property which will mean
you cannot sell the property without paying this lien and may lose the property entirely after a certain period by state authorized auction of your property.
Also, If you belong to a homeowners association you can have a lien placed against your property for failing to pay special assessments.
Joining the "association" is not typically an option.
So at most you own the "right to keep or sell" the property but I would say
that you never truly own it because you must continue to pay tribute in the form of property taxes even if you paid millions of dollars for the property or it can be taken away from you.
I call that RENT. The state calls it property taxes.
Unless that's your understanding of what it means to own property.
A lot of civil workers are counting on that being your understanding.
So if you just need a place to live and are not interested in property for tax
reasons or for the desire to make a profit by buying, selling or renting property you may be better off renting.
Beach Fanatic
I say the folks who bear the responsibility of ownership should have the only voting rights come election time. Who said that first?Hmmm...David Duke?
j/k Probably T.J. w/o having to look it up.
Beach LoverAuthor
well it is true that early in our country's history only Landowners could vote.
But it is good for people to consider how we got were we are today from
were we started. Landowners could perhaps be called stakeholders in todays
lingo. Would someone who does not own stock in a company be allowed to vote
on company matters?
"'The secret of life, is to appreciate the pleasure of being terribly, terribly decieved.'~Oscar Wilde"
But it is good for people to consider how we got were we are today from
were we started. Landowners could perhaps be called stakeholders in todays
lingo. Would someone who does not own stock in a company be allowed to vote
on company matters?
"'The secret of life, is to appreciate the pleasure of being terribly, terribly decieved.'~Oscar Wilde"
Edited
Beach LoverAuthor
I beg to differ . I said you own the Right to KEEP or SELL.
And you do know me a bit from this post and I think it is really renting your property from the state. And who pays how much for what services is
a big subject all by itself.
And you do know me a bit from this post and I think it is really renting your property from the state. And who pays how much for what services is
a big subject all by itself.
There are numerous other reasons for home ownership.....none of those reasons on my list are mentioned in your post. But my number one reason is sleeping better, knowing that I won't be moving until the homeowner=me says it's time to do so. Paying taxes is a part of participating in your community's services and development. I don't know of any homeowners that consider paying property taxes "rent".
Beach LoverAuthor
I HEARD THAT. Notice I did not say no one should pay taxes, also another subject. My point is on the meaning of ownership of property.
What do you think it should mean.
That you should pay or your heirs should pay forever for a piece of property
that someone was supposed to own.
As Spock would say "That is not logical"
SON
What do you think it should mean.
That you should pay or your heirs should pay forever for a piece of property
that someone was supposed to own.
As Spock would say "That is not logical"
SON
Taxes stink but if no one paid them, how could we survive as a community?
Idea! We can add discretionary taxes and make tangible purchases pay for our streets, fire department, etc. It would be good for landowners if every tangible purchase contributed the county budget.
Death and taxes.... *sigh* Any suggestions or county volunteers?
Beach LoverAuthor
This country needs more people with good ideas,
Thanks for throwing something out there,
SON
Thanks for throwing something out there,
SON
Taxes stink but if no one paid them, how could we survive as a community?
Idea! We can add discretionary taxes and make tangible purchases pay for our streets, fire department, etc. It would be good for landowners if every tangible purchase contributed the county budget.
Death and taxes.... *sigh* Any suggestions or county volunteers?
Beach Fanatic
well it is true that early in our country's history only Landowners could vote.Maybe give them 3/5th's of a vote...call it a Compromise
But it is good for people to consider how we got were we are today from
were we started. Landowners could perhaps be called stakeholders in todays
lingo. Would someone who does not own stock in a company be allowed to vote
on company matters?
"'The secret of life, is to appreciate the pleasure of being terribly, terribly decieved.'~Oscar Wilde"
Beach LoverAuthor
You are wise between your ears and beyond your years
SON
SON
SON must have received his new property tax assessment in the mail today too.
SoWal Expert
Remember that rentors pay property taxes in the form of higher rents. They are not free from property taxes, and in my opinion, should have just as much right to vote as the property owner, whose mortgage, taxes and insurance they happen to be paying (at least in some cases of property bought prior to 2002).
Meow
You know...when I was young (er), I always wondered why we "owned" our house when we owed more to the bank than we had invested in that house. Please explain.
P.S. I could probably ask Mr. K, but sometimes his ears bleed with all my "business" questions.
P.S. I could probably ask Mr. K, but sometimes his ears bleed with all my "business" questions.
Edited
Beach LoverAuthor
Another good point from a local sage.
Although some rents are subsidized and some owners pay higher or lower rents depending on market supply and demand there is renewed interest in WHO should have the right to vote.
I think 16 years olds should be allowed to vote.
16 is the new 18.
And shouldn't a person who decides to live a life as free from material possessions as possible like a car and a home be allowed to vote ?
Although some rents are subsidized and some owners pay higher or lower rents depending on market supply and demand there is renewed interest in WHO should have the right to vote.
I think 16 years olds should be allowed to vote.
16 is the new 18.
And shouldn't a person who decides to live a life as free from material possessions as possible like a car and a home be allowed to vote ?
Remember that rentors pay property taxes in the form of higher rents. They are not free from property taxes, and in my opinion, should have just as much right to vote as the property owner, whose mortgage, taxes and insurance they happen to be paying (at least in some cases of property bought prior to 2002).
Edited
SoWal Expert
Interesting thought regarding voting age. Have 16 year olds completed a course in American Gov't? Economics? I think we were in the 11th grade when we had Economics, and that would make us around 17 years of age. Maybe schools should also be offering a class on Politrics, but if the gov't is teaching it, ...
Beach LoverAuthor
I'm glad you asked . I always remember the movie with Jimmy Stewart
where someone compliments him on how nice his house looks and he replies
"we like to keep it in good condition for the bank" or something to that effect.
A banker is like a person who lends you an umbrella when it is sunny out
and takes it back the minute it starts raining
-can't remember
Credit Card companies want to know if you RENT or OWN your house
I think they are really asking " Is there any potential equity in the picture"
And in the big picture we are all borrowing everything from (you pick)
1. God
2. The Force
3. Time
4. Mother nature
5. 1,2,3,4 cause they are all different aspects of the same
6. The void
7. other
And we see no proof that anyone has been able to take their STUFF with them when they died.
SON
where someone compliments him on how nice his house looks and he replies
"we like to keep it in good condition for the bank" or something to that effect.
A banker is like a person who lends you an umbrella when it is sunny out
and takes it back the minute it starts raining
-can't remember
Credit Card companies want to know if you RENT or OWN your house
I think they are really asking " Is there any potential equity in the picture"
And in the big picture we are all borrowing everything from (you pick)
1. God
2. The Force
3. Time
4. Mother nature
5. 1,2,3,4 cause they are all different aspects of the same
6. The void
7. other
And we see no proof that anyone has been able to take their STUFF with them when they died.
SON
You know...when I was young (er), I always wondered why we "owned" our house when we owed more to the bank than we had invested in that house. Please explain.
P.S. I could probably ask Mr. K, but sometimes his ears bleed with all my "business" questions.
SoWal Expert
Are you now thinking that you bought too much house?
Beach LoverAuthor
I think your right. It would be good to get some of both subjects in front of people this age and the internet also allows younger people to interact with
politicians and pundits of all stripes and form opinions of their own.
Many speeches are on youtube as well as debates etc.
And many citizens are busting politicos by reporting everything they say
not just what major media wants to play.
SON
politicians and pundits of all stripes and form opinions of their own.
Many speeches are on youtube as well as debates etc.
And many citizens are busting politicos by reporting everything they say
not just what major media wants to play.
SON
Interesting thought regarding voting age. Have 16 year olds completed a course in American Gov't? Economics? I think we were in the 11th grade when we had Economics, and that would make us around 17 years of age. Maybe schools should also be offering a class on Politrics, but if the gov't is teaching it, ...
Beach LoverAuthor
Due exclusively to the Luck O the Irish I bought early enough to weather the current storm but I am hearing horror stories from others.
Just remember folks they can't throw you in prison or execute you for not paying your mortgage.
The Japanese say " Fall down seven times, Get up eight times"
SON
Just remember folks they can't throw you in prison or execute you for not paying your mortgage.
The Japanese say " Fall down seven times, Get up eight times"
SON
Are you now thinking that you bought too much house?
SoWal Insider
Hmmm...David Duke?Maybe his great, great, great grandfather.....
j/k Probably T.J. w/o having to look it up.
Banned
i think there was a time when everyone was held to the same standards of law and taxation and there was a system to whom everyone was beholden and upheld. so even if you had to pay taxes or association fees you felt there was some logic to it or that you had some say. also, people's homes were respected, the act of foreclosure wasn't so "automated". things are very different now.
that sense of obligation doesn't really exist anymore in the governmental realm - they no longer look after the best interests of their constituents, busines realm - ditto, and the personal realm, it appears that now depending on your race, class or wealth, you have a different system of justice.
so yeah..the whole concept of ownership in a societal structure that is falling apart seems...outdated.
that sense of obligation doesn't really exist anymore in the governmental realm - they no longer look after the best interests of their constituents, busines realm - ditto, and the personal realm, it appears that now depending on your race, class or wealth, you have a different system of justice.
so yeah..the whole concept of ownership in a societal structure that is falling apart seems...outdated.
Edited
SoWal Insider
i think there was a time when everyone was held to the same standards of law and taxation and there was a system to whom everyone was beholden and upheld. so even if you had to pay taxes or association fees you felt there was some logic to it or that you had some say. also, people's homes were respected, the act of foreclosure wasn't so "automated". things are very different now.Nothing has changed, other than your awakening to the reality. Pols' constituency has always been those who "contribute". Justice has always been a direct relationship with how much lawyer you can afford, and how much can you put in the envelope for the those deciding the outcome.
that sense of obligation doesn't really exist anymore in the governmental realm - they no longer look after the best interests of their constituents, busines realm - ditto, and the personal realm, it appears that now depending on your race, class or wealth, you have a different system of justice.
so yeah..the whole concept of ownership in a societal structure that is falling apart seems...outdated.
Beach Fanatic
You could always live in a boat and not actually own any property!
Beach LoverAuthor
Great idea.
I understand that Mega Gazillionaire Sir Richard Branson lives in a river barge
on the Thames
I understand that Mega Gazillionaire Sir Richard Branson lives in a river barge
on the Thames
SoWal Expert
You could always live in a boat and not actually own any property!If you don't think that a boat is real property, go talk to the tax man. ;-)
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