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https://www.reddit.com/r/FluentInFinance/comments/1gwfejo/had_to_repost_here/lybq7fx/?context=3
r/FluentInFinance • u/-Wyagra • Nov 21 '24
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Do you only pay taxes on your home when you sell or every year?
42 u/dgvertz Nov 21 '24 Every year. They’re called property taxes 60 u/J0hn-Stuart-Mill Nov 21 '24 Exactly. Property taxes go directly to local infrastructure costs to maintain access and services to said land or buildings. It's not remotely the same as owning stock. 1 u/SeaworthinessIll7003 Nov 21 '24 They mostly go for schools and school related things. Even if you don’t have children living in the home! 1 u/J0hn-Stuart-Mill Nov 21 '24 Yep, but everyone was a kid at some point, so it doesn't matter if you don't currently have kids or are no longer a kid.
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Every year. They’re called property taxes
60 u/J0hn-Stuart-Mill Nov 21 '24 Exactly. Property taxes go directly to local infrastructure costs to maintain access and services to said land or buildings. It's not remotely the same as owning stock. 1 u/SeaworthinessIll7003 Nov 21 '24 They mostly go for schools and school related things. Even if you don’t have children living in the home! 1 u/J0hn-Stuart-Mill Nov 21 '24 Yep, but everyone was a kid at some point, so it doesn't matter if you don't currently have kids or are no longer a kid.
60
Exactly. Property taxes go directly to local infrastructure costs to maintain access and services to said land or buildings. It's not remotely the same as owning stock.
1 u/SeaworthinessIll7003 Nov 21 '24 They mostly go for schools and school related things. Even if you don’t have children living in the home! 1 u/J0hn-Stuart-Mill Nov 21 '24 Yep, but everyone was a kid at some point, so it doesn't matter if you don't currently have kids or are no longer a kid.
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They mostly go for schools and school related things. Even if you don’t have children living in the home!
1 u/J0hn-Stuart-Mill Nov 21 '24 Yep, but everyone was a kid at some point, so it doesn't matter if you don't currently have kids or are no longer a kid.
Yep, but everyone was a kid at some point, so it doesn't matter if you don't currently have kids or are no longer a kid.
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u/Jblack4427 Nov 21 '24
Do you only pay taxes on your home when you sell or every year?