Why do people say it’s better to own your home when it’s impossible to own because you have to pay property taxes?
- StephenWeinsteinLv 76 months agoFavorite Answer
So that you only have to pay property taxes, instead of rent, which is usually more. And so you can get money later when you sell the home.
It is because of property taxes that it is possible to own. Without property taxes, there would be no money to pay police and fire departments, so it would be impossible to own anything for very long, before it was stolen or burned up.
- Raymond L.Lv 46 months ago
well if you rent you pay property taxes in your rent, only the landlord pays them.
- Casey YLv 76 months ago
Tenants are paying property taxes through their rental payments...the landlord doesn't just pay the taxes out of their own cash...its called operating income.
- 6 months ago
It isn't impossible. You own the home. Property tax doesn't mean you don't own the home any more than income tax means you don't make any money.
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- Wayne ZLv 76 months ago
Renters pay property taxes, as well. However, for them, it is part of their rent so it is harder to notice.
- Common SenseLv 76 months ago
My mortgage was under $1K. $442 was toward the loan. The rest of the payment was put into escrow to pay the property taxes and the homeowner's insurance.
All homeowners must pay property taxes. Therefore, when they rent out a home, the rental fee includes the property taxes as that is part of the expense for the renter to occupy the house.
It is not impossible to own a house due to property taxes.
The next time you are in a car, look out the window. Every house and every business you see are all paying property taxes. Therefore, your assumption that "it is impossible to own because you have to pay property taxes" is a completely false statement. ALL of those buildings, EVERY residential and commercial piece of property alike, are owned by someone. Real Estate cannot be owned without paying property taxes.
- Anonymous6 months ago
You haven't really thought this through have you?
- SumDudeLv 76 months ago
lol. You are splitting hairs. Impossible to own your car, too, because you have to pay licensing fees every year and keep the car insured. Troll fail. Try again.
- babyboomer1001Lv 76 months ago
You have a very warped idea about home ownership. It is not impossible to own a home just because you have to pay property taxes. You do want water running to your home, don't you? Electricity? Sewer services? Roads? Cable?
- curtisports2Lv 76 months ago
My home is paid for. I do still pay property taxes, but that amount to about 25% of the market rent for my house. I've been living here 32 years.
If I had rented all that time, I would have paid more in rent than what I paid in taxes, mortgage interest, upkeep and the actual payment of principal on the mortgage - money that is mine, in the equity in my home. And I would have nothing but a bunch of rent receipts. I would have still paid the property taxes, indirectly. The landlord would have paid the taxes with my money.