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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][b]It’s because we have stupid “age in place” incentives, which aren’t good public policy.

Being older isn’t an excuse not to pay your share of property taxes (some locales lock taxes in place based on age).[/b]

Keeping older people in giant SFHs (which are a finite resource in areas near job centers) is terrible public policy. It’s not environmentally friendly to have one or two people using all these utilities. And as in the case of my aging MIL who refuses to move, it leads to a lot of family stress from falling down the stairs (already had one hospital stay and she continues to go downhill as her giant home falls into disrepair).

Everyone likes to tell younger people you don’t always get what you want, but why can’t we say the same to older people? We as a society shouldn’t have to subsidize them through low property taxes just because they want to sit in their wealth without tapping into equity to pay taxes or move. We shouldn’t be giving tax credits so they can modify their homes to make them adapted to the elderly.

If you want to stay in your big house as you get old then you need to be able to pay for it yourself (taxes, modifications, and all). It’s so hypocritical to tell younger people that if they want something they have to save/pay for it themselves, but then also expect society to help them afford what they want.
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I think it’s good public policy to allow people on fixed incomes to remain in the homes they’ve lived in for decades. Why do you have such a problem with giving retired people a break on property taxes? Not everyone has some huge nest egg to draw from.[/quote]

Because we are giving people who had decades of their life to save a break but not giving a break to younger people just starting out.

Why should a 28 year old with student loans and daycare bills to pay have to pay more taxes than the 78 year old who has paid off their mortgage?[/quote]

Some day that will be you and you will sing a different tune. That's why nobody takes you seriously.[/quote]

I genuinely do not understand your thought process but I want to learn more. Why is it good public policy to allow seniors to stay in place? Are you saying this about truly disadvantaged seniors and PP is focused on seniors in homes too large for them in prime areas? Please, enlighten me[/quote]

I truly want to understand why you want to kick the elderly out of the homes they have bought and paid for. They played by the rules and now you want to change the rules because you think you deserve a better deal. You can make more money, you have you whole life in front of you. The elderly have no place to go but down. You will be old too some day.[/quote]

The question here is whether these elderly folk deserve to pay less property  tax vs their neighbor simply because of their age. They are getting a better deal now because the rules are set up that way, and the question is if we should change it. If they own their home, presumably a paid off home, they have equity. I sympathize that the equity is often inaccessible for the elderly. But they have options. They could sell (if they wanted, no one is forcing them) and downsize. They could rent. But why should they be able to pay less taxes?[/quote]

And when their end of life care bills spiral out of control they will be forced to sell. The vast majority of boomers haven't saved enough. All that wealth they supposedly have is concentrated in a tiny fraction of the hands, as usual. Most are not that well off. Their financial ruin will come soon enough, is that what they deserve? You would probably say yes. Plenty of millennials are doing quite well and can afford their taxes. Or maybe they should move somewhere more affordable, see how that works?[/quote]

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