Homestead deduction - should I care?

[Anonymous]

About half the houses on my block are rentals. I know this because I know my neighbors. And each and every one of those houses is taking the homestead deduction.

Yeah, yeah, MYOB. But also... this is wrong, isn't it? It profits people who already have enough to own an extra $1M house (or more) at the expense of the community.

[Anonymous]

I care and have reported this. Claiming the homestead deduction when you're not entitled to it is stealing and tax evasion.

[Anonymous]

Yeah I would report this.

[Anonymous]

Curious, do you get a kickback from the gov if there is a fine or settlement, similar to reporting tax evaders? Granted, if the lied elsewhere the tax filing are probably affected negativley and you may qualify from that vantage point?

[Anonymous]

Not saying you shouldn’t report it, OP, but I do wonder what they might report you for doing in your rental, eh?

[Anonymous]

Anonymous wrote:About half the houses on my block are rentals. I know this because I know my neighbors. And each and every one of those houses is taking the homestead deduction.

Yeah, yeah, MYOB. But also... this is wrong, isn't it? It profits people who already have enough to own an extra $1M house (or more) at the expense of the community.

How could you possibly know this? How do you know even if your neighbor's house is paid off vs. they own mortgage on it or how they financed it?

[Anonymous]

MYOB loser

[Anonymous]

Anonymous wrote:

Anonymous wrote:About half the houses on my block are rentals. I know this because I know my neighbors. And each and every one of those houses is taking the homestead deduction.

Yeah, yeah, MYOB. But also... this is wrong, isn't it? It profits people who already have enough to own an extra $1M house (or more) at the expense of the community.

How could you possibly know this? How do you know even if your neighbor's house is paid off vs. they own mortgage on it or how they financed it?

NP but I believe the homestead deduction is listed on the property tax bill in Montgomery County, which anyone can look up online by address.

[Anonymous]

they should not be doing that

but I probably would not do anything about it because I'd worry they might retaliate against me in some way

[Anonymous]

Anonymous wrote:

Anonymous wrote:About half the houses on my block are rentals. I know this because I know my neighbors. And each and every one of those houses is taking the homestead deduction.

Yeah, yeah, MYOB. But also... this is wrong, isn't it? It profits people who already have enough to own an extra $1M house (or more) at the expense of the community.

How could you possibly know this? How do you know even if your neighbor's house is paid off vs. they own mortgage on it or how they financed it?

DP. Because the homestead deduction has nothing to do with the mortgage? Like wtf are you even talking about.

[Anonymous]

I reported my neighbor for taking it, but their house had become a nuisance property. The city corrected their records, sent them a bill and they promptly sold to someone who renovated and moved in. Good neighbor.

[Anonymous]

Report all of them unless the properties are covered by MOCOs recent up zoning for high density apartments. If your neighborhood is covered by the up zoning or parcels are adjacent to properties covered by it don’t report. Otherwise you might end up with an apartment building with a density of 20-30 units per acre next door.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:About half the houses on my block are rentals. I know this because I know my neighbors. And each and every one of those houses is taking the homestead deduction.

Yeah, yeah, MYOB. But also... this is wrong, isn't it? It profits people who already have enough to own an extra $1M house (or more) at the expense of the community.

How could you possibly know this? How do you know even if your neighbor's house is paid off vs. they own mortgage on it or how they financed it?

NP but I believe the homestead deduction is listed on the property tax bill in Montgomery County, which anyone can look up online by address.

I believe this is true in many jurisdictions.

[Anonymous]

Anonymous wrote:

Anonymous wrote:About half the houses on my block are rentals. I know this because I know my neighbors. And each and every one of those houses is taking the homestead deduction.

Yeah, yeah, MYOB. But also... this is wrong, isn't it? It profits people who already have enough to own an extra $1M house (or more) at the expense of the community.

How could you possibly know this? How do you know even if your neighbor's house is paid off vs. they own mortgage on it or how they financed it?

All of the above is public information.