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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Looks like textbook “angry white man syndrome”. Just a standard boilerplate maga rant. “[i]Oh, my property taxes are too high!” “You’re spending MY money on brown people!” “I’ll close my remarks by threatening you.”[/i]

Fortunately there are more than enough good and decent people in MoCo to drown out violent screaming nutjobs like that a-hole. [/quote]

why is it maga?  i'm not maga and my property taxes have almost increased 100% in a decade or so.  why should I be happy about that.

and before you talk about home prices, we havent gotten any better services in a decade to justify 100% increase in property taxes.  51% goes to MCPS and elrich wants a special assessment on top of the increases for Capital projects.

maybe you dont care but people are fed up.  [/quote]

Your property taxes increased 100% because the value of your home increased 100%

… you psychopath[/quote]

+1. Always amazing when people complain about their property taxes which means they have the good fortune of having their property value risen dramatically. If your property value went from $1 million to $2 million, sure the $10K increase in taxes would be annoying to some extent, but I would be celebrating my good fortune of having gained $1 million even if it's "unrealized" until I sell. Plus, those property taxes are deductible so if you're truly house poor, you'll get lots of it back.[/quote]

DP.  To keep from making folks (as) house poor after the fact with rate increases on top of assessment increases from unrealized gain, we could divide property tax increases between, say, that indexed to inflation and anything more or that associated with the purchase price and the unrealized gain, allowing one portion or the other, with interest, to accrue to a ledger that gets charged on later property transfer (e.g., at settlement from a sale or from estate bequest).[/quote]

If property taxes from your 100% gain in property value are so onerous to you, just sell and rent. You can rent a super fancy place with your hundreds of thousands (perhaps millions) of gains, much of which will be tax free. You can also move to a jurisdiction that has the property tax structure you so ardently desire (if one exists). As a bonus, hopefully you’ll be able to move to somewhere where people spend all day railing about “socialists,” just like you do. [/quote]

Maybe you missed the "DP" at the beginning of the post.  No railing about socialists, there or here.

Separately, moving (selling and then moving even more so) is incredibly burdensome, not only to the individual(s) involved, but also to society as a whole, which really sees no benefit from such churn (outside of those servicing such churn -- real estate agents, title companies and the like, whose gains are paid for entirely by the transacting parties, resulting in a net societal loss).  Suggesting that as a remedy is a really poor, knee-jerk response to anyone who might wish to see societal paradigms different from those of your own preference.[/quote]

You know what's poor and knee-jerk? Acting as though taxation of real estate at current market value is some sort of unexpected or novel phenomenon. This has always been the arrangement in Montgomery County, as well as every other jurisdiction in the DMV, so if you wanted a different "societal paradigm," you should have chosen a different place to live. The whining about property taxes of 1%, when you are sitting on 100% property value gains amounting to hundreds of thousands or millions of dollars, is just too much. Most people would love to be sitting on 100% property gains, and instead of being grateful for this tremendous blessing, you just whine and complain. What a way to live your life.[/quote]

if this is the case, why cant MOCO spend the money appropriately?  why do they need special tax assessments to fund MCPS and their other social problems above what you say is the "market rate"?  the county knows what the increases are and need to budget accordingly.   the original post was a citizen angry b/c his taxes have doubled AND the county wants a special assessment to pay for Capital projects.    this while there are NO improvements in our services and overrall decreases in MCPS test scores and school ratings.

and for all your talk of "being grateful", this property tax increases only makes it more expensive to own or rent in the county.  [b]this taxes will be passed on to you as a renter.[/b]  so when you complain that rent is too high, probably 1/3 to 1/2 of that is to cover your landlord property tax increases.  so you be grateful when rent is raised another $1k.  you need to pay your fair share

[/quote]

Investment properties, including rental apartments, are excluded from the council president’s tax increase. They’re the only group that escaped higher taxes. Not to worry though: Increasing the cost of home ownership will give landlords more headroom to raise rents, and I’m sure they’ll do so even though their tax burden isn’t increasing. [/quote]

really?  How can that be?

if true, then the homeowners have an even bigger reason to be upset.  the council is putting these special assessment on the backs of homewowners and yet we should be grateful....amazing[/quote]

It is true. The council president’s change to property taxes is eliminating the income tax offset credit, or ITOC. The ITOC is only available to owner occupied properties (specially the principal residence). Rental properties don’t qualify for the ITOC, so the only landlords who lose it will be those committing fraud.

Eliminating the ITOC has been on the developer wishlist for a while because it’s a tool the executive and council could use right away to make property taxes more progressive. Raising the ITOC and tax rates together would shift more property tax burden to commercial and other investment properties while shielding homeowners from increases. Eliminating the ITOC entirely makes that possibility more distant.

Killing the ITOC is a dirty trick because many people do not understand their property taxes well enough to understand that eliminating the ITOC will cause their bills to go up by more than 10 percent, and because the limited relief provisions in place to protect homeowners from rapid increases in taxes don’t apply if the council takes away the ITOC.

Retirees, who own a disproportionate number of the homes affected by the upzoning bills, will be especially hit hard because they will lose the ITOC and don’t have enough taxable income to get offsetting benefit from the income tax changes. Some will have to move, which is one way to accelerate redevelopment in the Georgia Avenue and University Boulevard corridors. [/quote]

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