Constitutional Amendment in North Dakota Would Abolish Property Taxes

Tell that to Native of American, and you should learn the word Eminent Domain.

 

I completely agree with you.

Why not abolish sales tax instead, like in Oregon?

 

If this passed ND would become the retirement capital of the USA.

Its a crying shame that retiree`s who live on a fixed income must pay property taxes which increase every year, while they must try and maintain a fixed budget.

At least with other costs of living you can make a choice. But if you dont pay the bill the jack booted thugs will come and steal your home you paid in for for 30 years...whatta country.

 

We wish.

 

Who would want to move to ND ?

It is like moving to Inner Mongolia

 

Actually, it's just another nail in the coffin of home ownership. While I don't like most of what James Altucher writes, the piece about the perils of home ownership is pretty much point for point something I strongly agree with.

There's always some bought and paid for line of shit in the local papers about "rising rents" to scare people into the idea of going back in and buying some overvalued property, but it's still nonsense. If you are retired you can move just about anywhere and find someplace on its ass with cheap rents. Plus anybody with even the slightest understanding of "it's negotiable" can work over a landlord or property owner.

 

I wouldnt be oppossed to ND if on a fixed income. I would just drink more with the money I saved.

 

the crying shame is that the biggest portion of those RE taxes typically are school taxes. make no sense to retiree or single man to pay them..

 

This is true. And of that portion (75% on my local tax bill) 60%+ goes to pay pensions.

 

Most people do not understand or they refuse to acknowledge that fact that you never "Truly" own your land or home.

The Two Lofts I have, one in San Antonio (Up for sale) and the one I have in Austin, where I am relocating my home office to, I truly do not own. If I were to pay both off and end up loosing my net worth, they would kick me out if I did not pay the property tax.

The idea as the 'Home" as an investment is a flawed model and it is even more flawed in the current trending economy.

Home prices are still falling, Bank Lending Rules just got tougher and will even be more difficult due to the new "Risk" rules on banks and inventory is saturated.

The only way I see "RE" as an investment is if you buy a building for commercial or an apartments , pull in Income with profits every month and make sure the commercial RE is a triple net lease..

Other wise, it's a pipe dream.