The median Boomer has a housing cost of $612. That includes taxes and insurance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I totally understand they dont want to move, but they also need to pay their taxes. I don’t need to subsidize your child or grandchild’s inheritance. Put your equity to work.

I have no idea what you're going on about. We live in Northern Va and pay our taxes just like everyone else does. We were also able to afford our home by moving further out to the exurbs and commuting to work a longer distance. You really are clueless.

Many of these subsidies are based on income and/or net worth. Loudoun for example looks at both whereas I believe FFX just looks at income. It’s not as simple as - I’m old, no taxes for me! The same rules also apply to individuals that are fully disabled, but yet PP isn’t ready to shove them off to an apartment or a more expensive smaller home.

https://www.loudoun.gov/5002/Real-Property-Tax-Exemption-Elderly-Disa

Nope, Fairfax looks at both. If you are 65 or older, and have a combined net worth over $400K (excluding the value of your home), you don't qualify for a property tax exemption in Fairfax, regardless of your income level.

Great! So here are at least two local counties that the poster stomping their foot about subsidizing Boomers, can live in and be comforted that many olds are paying their “fair share” in taxes.

[Anonymous]

Great - i am happy with the policy of Fairfax.
Lets work on the policies across america.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don't understand this. Are boomers grandfathered in to low taxes and insurance or something? How on earth could they pay so much lower than the rest of us with similar houses?

When it comes to property taxes, many states (eg, California) and local jurisdictions (eg, DC and thousands of other cities & counties) cap property taxes from appreciating for long time home owners. So if you own your home for a long time, you will pay only a fraction in property taxes of what newer home owners will pay. This is especially true in areas that have seen rapid price appreciation in recent years.

It’s massively market-distorting and keeps older residents in their big homes because they don’t want to pay more in taxes. California tried to alleviate this by allowing older residents to sell their home and apply the original discounted property tax rate to a new property….its had mixed results. But even in California, you have houses in Malibu that are worth $10m but they pay the original property tax on the $300K value when they purchased the property in 1980. So maybe they pay $10K per year in property taxes while their next door neighbor pays $100K/year.

There’s variations of these tax distortions all over the US. Now apply this to vacation homes and investment properties, plus zoning restrictions….it puts younger buyers at a massive disadvantage.

This is insane! So the rest of us are subsidizing boomers?!

It is not just Boomers. My friend bought a home in Malibu CA and closed on it Jan 2020. Home prices in Malibu have had a massive increase since Jan 2020 and he locked in much lower taxes for life than people buying in 2024 as his is based off Jan 2020 prices.

If your friend can afford Maiibu, he can afford to pay his taxes.

He doesn’t have to. Good luck changing CA law.

Malibu was no bargain in Jan 2020. Your friend is still paying far more than his neighbors who bough in 1985.

He paid 2 million for a small home in Malibu. It is currently worth on redfin 3.5 million. A 2024 buyer of his exact house if he sold it would pay 75% more property tax. He has three kids so pretty sure home will be passed on to one. They are 15, 12 and 5. My bets on 5 year old getting it!

And his neighbor probably paid $500,000 for that house. That's how it works in CA. On the same street everyone pays wildly different taxes which is why once you're on there is no incentive to move.

[Anonymous]

Anonymous wrote:Great - i am happy with the policy of Fairfax.
Lets work on the policies across america.

Property taxes benefit local jurisdictions. What’s happening across the US isn’t your business. Focus on living in a place that doesn’t offer reductions to the elderly.

[Anonymous]

People upset at boomers "hoarding" houses, where do you want the boomers to move to if you force them to sell? You'd just be driving them into the starter home markets if the goal is to get them to move to smaller properties.

There is no logic here. Just angry spiel and rambling typical of unintelligent left wing progressives.

[Anonymous]

Anonymous wrote:People upset at boomers "hoarding" houses, where do you want the boomers to move to if you force them to sell? You'd just be driving them into the starter home markets if the goal is to get them to move to smaller properties.

There is no logic here. Just angry spiel and rambling typical of unintelligent left wing progressives.

They just want them to die so they can have the houses and the money.

[Anonymous]

Anonymous wrote:People upset at boomers "hoarding" houses, where do you want the boomers to move to if you force them to sell? You'd just be driving them into the starter home markets if the goal is to get them to move to smaller properties.

There is no logic here. Just angry spiel and rambling typical of unintelligent left wing progressives.

Then get rid of 55 plus communities. Look at homes in Boca raton. Hundreds of very affordable homes listed there until you see they are age restricted.

[Anonymous]

Anonymous wrote:People upset at boomers "hoarding" houses, where do you want the boomers to move to if you force them to sell? You'd just be driving them into the starter home markets if the goal is to get them to move to smaller properties.

There is no logic here. Just angry spiel and rambling typical of unintelligent left wing progressives.

No one is forcing them to sell. Boomers can make their own decision. They can downsize if they want to. Don’t expect any property tax sympathy from me.

[Anonymous]

Downsizing in a trouble free home in a trouble free area is often as or more expensive and taxes are accordingly high, big chunk of equity gets eaten by commissions and fees, leaving senior citizens into homes and neighborhoods they aren't familiar or comfortable with.

Most HOA doesn't allow turning portions of the single family homes into rentals, otherwise, seniors can live in home, have some income and share home with tenants.

[Anonymous]

Anonymous wrote:

Anonymous wrote:People upset at boomers "hoarding" houses, where do you want the boomers to move to if you force them to sell? You'd just be driving them into the starter home markets if the goal is to get them to move to smaller properties.

There is no logic here. Just angry spiel and rambling typical of unintelligent left wing progressives.

No one is forcing them to sell. Boomers can make their own decision. They can downsize if they want to. Don’t expect any property tax sympathy from me.

Then why expect them to extend empathy for people who can't afford housing prices? Those peoplr can stay in rentals.

[Anonymous]

Anonymous wrote:

Anonymous wrote:People upset at boomers "hoarding" houses, where do you want the boomers to move to if you force them to sell? You'd just be driving them into the starter home markets if the goal is to get them to move to smaller properties.

There is no logic here. Just angry spiel and rambling typical of unintelligent left wing progressives.

No one is forcing them to sell. Boomers can make their own decision. They can downsize if they want to. Don’t expect any property tax sympathy from me.

No one is asking for your sympathy. Everyone pays their bill or has to sell.

[Anonymous]

That sounds about what my
Mom pays in Buffalo, NY. Except she’s not a boomer she is silent generation. She is finally selling and moving to an over 65 complex- mainly 75 and up heavy on 90+.

She didn’t move for years precisely because it was so cheap! Don’t worry there was a gen z bidding war for the house I grew up in.

[Anonymous]

Boomers and Gen X vote; politicians listen.

Hey, Millennials and Zoomers: the ball's in y'all's court!

[Anonymous]

Anonymous wrote:I totally understand they dont want to move, but they also need to pay their taxes. I don’t need to subsidize your child or grandchild’s inheritance. Put your equity to work.

Almost 90% of my property taxes go to county schools. My kids are all out and working on their own. Why should I subsidize your kids’ schooling?

[Anonymous]

Throughout history, and even today in much of the world, people literally lived and died in the same house their entire life. Yet here you have all this whining about people not giving up their home. Unbelievable.