Agree or Digraee,..non partisian, involves taxes though
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Heisman Winner [111710]
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Agree or Digraee,..non partisian, involves taxes though
May 1, 2021, 8:40 AM
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A person or entity from a different state or country that purchases a property in your state, as either an investment property or a vacation home, should pay a considerably higher property tax than a resident that works, lives, spends money, and pays employment and sales taxes in that state.
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All-In [40353]
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Heck, here in CHS
May 1, 2021, 8:47 AM
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They won’t even register their vehicles
I think I could get behind this
Would you do more for rentals through the investment properties?
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All-In [40353]
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Well, check that
May 1, 2021, 8:48 AM
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In CHS county you get taxed at 4% on primary residence and 6% on secondary
I know this from experience because my condo was somehow logged as a secondary residence and I got money back when I showed it was my primary
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Rock Defender [54]
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Re: Well, check that
May 1, 2021, 10:36 AM
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Heisman Winner [111710]
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Re: Heck, here in CHS
May 1, 2021, 8:52 AM
[ in reply to Heck, here in CHS ] |
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This was casually mentioned the other day, thought i would bring tiup again.
If you already own, you'd probably be against this , because the investment groups create housing shortages which will raise your property value as well, however, if you plan to move, upgrade, or purchase your own investment property, the price of entry just went way up. The same goes for a young married couple looking for their first home, they get priced out of their own city. it is happening in a lot of fo places, I mean it has been happening for decades in coastal cities, but I am seeing more and more of this in places one would not expect, and if it were to continue to go unchecked, could result in generations of renters.
Again, if you own, and have no intentions of moving, this would seem like a bad idea because these people are driving up your property value, as well as their won.
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All-In [40353]
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I think you are right that they would
May 1, 2021, 9:02 AM
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Be opposed to it
I also think that it’s a: you chose to buy and therefore must bear the financial burden
We’ve got people that bought a house on the lake and then are mad about alligators in said lake
You bought a property to profit and are mad about the taxes you have to pay
Although, I’d think the people that are doing this are smart enough to have a way shield themselves from the tax burden somehow
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Heisman Winner [111710]
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Re: I think you are right that they would
May 1, 2021, 9:20 AM
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there is no way of getting out of property taxes that I am aware of, I do know the state of Florida gives some of our clients tax breaks when they agree to build new developments and have to sit on the land for a bit. But those millionaires from Connecticut on the coast with empty vacation homes take it hard as it is down here. I am saying they should take it even harder. A lot of you will disagree.
Maybe all of us can agree here, if a Chinese invester comes into your community to buy up homes, their property Tax should be around 200% as far as I am concerned. Can we agree on this? There should be zero incentive for foreign investors to start buying this country out from under us, which is happening right now.
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Legend [19933]
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Re: I think you are right that they would
May 1, 2021, 10:07 AM
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+1. Has been happening for quite some time now. Disruption of the communities is accelerating and societal disorder is on the way.
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CU Medallion [73569]
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Not opposed BUT
May 1, 2021, 8:56 AM
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as you know it's important to make your state or area enticing for businesses. Most are probably out of state. You'd stifle investment an more importantly more tax revenue.
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Heisman Winner [111710]
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Re: Not opposed BUT
May 1, 2021, 9:02 AM
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it is reasonable to create an argument that benefits your self-interest.
The growth is artificial, if the people are not living in, working in, or spending money in your community, they are not driving growth, they are removing wealth from your community by discouraging home ownership in lieu or renting., thus the economic rewards associated with and by members in your community and being drained.. They are creating artificial wealth for a few, but there would be no economic incentive to build more houses when nobody can afford them.
We are quite literally entering a new phase of "affordable housing", which has a lower entry point but is still highly parasitic over the long run. I can get into that another time.
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Hall of Famer [24477]
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Agree. I think that is at least part of the argument for
May 1, 2021, 9:18 AM
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taxing non residents higher property taxes. Hypothetically, if the tax on increased property values was born by the existing residents equally to the investors causing the increase, some places could become mostly non residential, with few SC-ers living there, ghost towns waiting to happen.
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Heisman Winner [111710]
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Re: Agree. I think that is at least part of the argument for
May 1, 2021, 9:32 AM
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this only happens in desirable locations I do not see ghost towns waiting to happen, well except my town over the summer. It's my favorite part about living here. All the Yankees leave the island and my commute gets cut in half.
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Hall of Famer [24477]
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Re: Agree. I think that is at least part of the argument for
May 1, 2021, 9:37 AM
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I once lived in a place with many summer residents. These were northeners who now live in Florida but get out of Florida for the summer. Yes, we lived for Labor Day. There was a tangible collective sigh of relief, and somebody typically hosted a celebratory residents-only party some time in September. We never actually called it that, but we all knew what it was, a time when we could actually have fun and not hear whining and complaining, the beginning of the season of such, and the countdown to Memorial Day when the whining began again.
We loved snow. Yankee repellant.
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Heisman Winner [111710]
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Re: Agree. I think that is at least part of the argument for
May 1, 2021, 10:00 AM
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These are obnoxious multi-millionaires and billionaires living out in Jupiter and Sailfish point. And because of their property taxes, this county is well funded, we have brand new schools, bridges, and the cops aren't out shaking people down with traffic fines to pay their salaries.
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Orange Blooded [4679]
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Re: Agree or Digraee,..non partisian, involves taxes though
May 1, 2021, 8:56 AM
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Interesting question and it does seem logical fir citizens of the state to get a better rate. But there another argument too. I live in SC and own raw land in NC. What services do I get for my NC property taxes? Zero, nothing. They get my money when I will never use the schools, fire dept, etc
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Heisman Winner [111710]
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Re: Agree or Digraee,..non partisian, involves taxes though
May 1, 2021, 9:11 AM
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I would not include undeveloped land in this. I am speaking strictly of existing homes, and definitely not new growth. If an investment group wants to come in build housing in another state, or country, there should be no disincentive to do so.
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Orange Blooded [4679]
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Re: Agree or Digraee,..non partisian, involves taxes though
May 1, 2021, 9:19 AM
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I hear you and agree about the new development. But why would I pay more if I buy a vacation home? I would likely rent it out which would bring in revenue for the state. Not really in favor of punishing the individual.
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Heisman Winner [111710]
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Re: Agree or Digraee,..non partisian, involves taxes though
May 1, 2021, 9:22 AM
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nobody rents their vacation homes here ,as far as I cansee. Hop onto Zillow and you will not see many million-dollar homes on the water listing as rentals.. And the investment groups are not looking to air BnB these suckers, they want rent at the first of every month, which again, removes wealth from your community.
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Heisman Winner [119758]
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Disagree***
May 1, 2021, 9:06 AM
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Orange Blooded [4356]
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Blam your question is inherently political. The obvious
May 1, 2021, 2:49 PM
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Answer for a conservative is HELL NO
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CU Medallion [50635]
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that's exactly how indiana works
May 1, 2021, 6:44 PM
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pay out of state rates on rental property i own there
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110%er [5694]
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Re: Agree or Digraee,..non partisian, involves taxes though
May 1, 2021, 7:01 PM
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Trick question only giving me choices that include paying some sort of tax.
Is there an option that includes no taxes?
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All-TigerNet [13160]
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Re: Agree or Digraee,..non partisian, involves taxes though
May 1, 2021, 8:07 PM
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Pay double in S.C. for investment/vacation home even if your your primary residence is the same county.
Better question is, “How much is enough?”
Property tax on two houses, boat, cars, truck, income tax, SS tax, Medicare tax, tax on retirement, estate tax, death tax, Obamacare tax, sales tax, fed income, state income, then you save the pennies left and get taxed on that later. How much is enough? 30, 40, 50, 75%.? How fkn much?
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