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This is confusing, I have a nice home, my property tax doesn’t exceed $10,000. I guess I’m not rich enough...wait!! I thought the bill only helped the rich and yet they will pay more? Hmmmm....looks like the media lied to us.
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Actually the cost of housing is a very local matter. We are seeing a shortage of affordable housing in favor of high end housing. I can see young professionals in the suburbs having property tax bills over $10,000 and being essentially middle class. The number of people paying out 40% or more of their income in this country is rising and it is not just lower class people. The bill does help the rich in that it allows them to shelter their income and pay lower taxes. First of all, the carried interest deduction was retained and even Trump admits this is garbage. Then you have the pass-through rates which will allow people to shield up to 30% of their income. Also passive investors in these businesses will be able to pay the lower rate on 100% of their income. Also you have the pass-through being extended to real-estate trusts which helps Paul Ryan, Bob Corker who changed his vote to yes, and Donald Trump.
then it is the states that raised the taxes on the individuals. cause others in other states aren't affected. right?You know homeowners don't pay a federal property tax don't you?
Here, I don't have the time to explain it to you:
Snip:
"Residents in New York, like others around the country, are rushing to file because the new tax code, signed into law last week, limits the amount of state and local taxes people can deduct on their federal returns, according to Donald Clavin, town receiver of taxes in Hempstead, New York. The change could cost some homeowners, especially those in high-tax states, thousands of dollars.""""
:
Snip:
“For weeks, many of us have bemoaned the Republican tax bill for a host of reasons. But high on the list was how punitive it is to high-cost, "blue" states and counties like ours,” Montgomery County Councilmember Roger Berliner, who proposed the bill, said in a statement Tuesday. “Capping the deduction for state and local taxes at $10,000 will take thousands of dollars out of the pockets of a big chunk of our residents, almost 40 percent of whom itemize their deductions today."""
Residents in high-tax states rush to file property taxes before new rules take effect
Trump did not raise anyone's property taxes. The state charges these property taxes. If the residents don't like paying those taxes, take it up with the state and get them lowered. The more valuable the property, the more tax is paid. You are crying about a bunch of rich people having to finally pay their fair share.
I can't believe this. Can't you fucking read? Trump raised property taxes by putting a cap on what can be deducted on their federal and state returns.
THIS OVERRIDES state laws and has nothing to do with state and local taxation.
Just learn to read and then you won't be making such stupid posts like this.
Trump cannot raise state property taxes. He can reduce the amount of the deduction but that does not change the amount of taxes owed. Why are you having such a hard time with this. If the amount of taxes owed is $4,000 and Trump says you can only deduct $2,000 leaving you with a whopping $2,000 property tax bill, the amount of taxes owed hasn't changed. Only the deduction has changed. It was always the same $4,000.
Start electing state officials to reduce the property tax. That's your answer.
How do you think those people in California who benefited from Prop 13 all those years ago feel now? Democrats have been trying to get rid of that and raise property taxes for decades.
Trump is raising taxes on people by capping deductions for state and local taxes. If they had done a across the board tax cut then it wouldn't be a issue. They needed the money to lower taxes on businesses.
See folks, you really DID want to know what was in that tax bill before it passed.
Homeowners Rush to Prepay 2018 Property-Tax Bills
Filers line up at municipal offices before the GOP law kicks in; ‘It’s been insane here’
By
David Harrison and
Jennifer Levitz
Updated Dec. 26, 2017 7:57 p.m. ET
Homeowners across the nation are rushing this week to prepay their property taxes for 2018 before the Republican tax law kicks in Jan. 1 and effectively raises the levy on higher-end homes.
The new legislation, which President Donald Trump signed into law last week, caps at $10,000 the amount of state and local taxes that filers can deduct from their federal tax bill. That means those whose tax bills regularly exceed that amount could benefit by paying more tax in 2017, when the deduction has no limit."""""
Homeowners Rush to Prepay 2018 Property-Tax Bills
dude, I have a 300K home and property taxes are 8k. Illinois happens to be the highest property tax state next to california and New york. so don't give me that.it's not about affordable housing but property taxes. How much your monthly payment is doesn't have jack to do with property taxes.This is confusing, I have a nice home, my property tax doesn’t exceed $10,000. I guess I’m not rich enough...wait!! I thought the bill only helped the rich and yet they will pay more? Hmmmm....looks like the media lied to us.
Sent from my iPhone using Tapatalk
Actually the cost of housing is a very local matter. We are seeing a shortage of affordable housing in favor of high end housing. I can see young professionals in the suburbs having property tax bills over $10,000 and being essentially middle class. The number of people paying out 40% or more of their income in this country is rising and it is not just lower class people. The bill does help the rich in that it allows them to shelter their income and pay lower taxes. First of all, the carried interest deduction was retained and even Trump admits this is garbage. Then you have the pass-through rates which will allow people to shield up to 30% of their income. Also passive investors in these businesses will be able to pay the lower rate on 100% of their income. Also you have the pass-through being extended to real-estate trusts which helps Paul Ryan, Bob Corker who changed his vote to yes, and Donald Trump.
Yes it can. If you are a young professional making a lot of money, the only housing in the area may be more expensive housing with higher property taxes. The Atlanta suburbs are a example. A recent NY Times analysis showed that people in the $100,000-200,000 are the most likely to pay higher taxes. This was based on the Senate bill so the numbers may have changed some but not that much. This is likely to be people in the suburbs. In terms of income, they may be seen as having it made, but the could be scarping by. Ronald Reagan did a much better job on tax reform because he wanted to do what was right not play politics.
well I know what the highest property tax states are. And I know that for the majority of folks in all of the other states, this doesn't affect them. so yeah, I do.dude, I have a 300K home and property taxes are 8k. Illinois happens to be the highest property tax state next to california and New york. so don't give me that.it's not about affordable housing but property taxes. How much your monthly payment is doesn't have jack to do with property taxes.This is confusing, I have a nice home, my property tax doesn’t exceed $10,000. I guess I’m not rich enough...wait!! I thought the bill only helped the rich and yet they will pay more? Hmmmm....looks like the media lied to us.
Sent from my iPhone using Tapatalk
Actually the cost of housing is a very local matter. We are seeing a shortage of affordable housing in favor of high end housing. I can see young professionals in the suburbs having property tax bills over $10,000 and being essentially middle class. The number of people paying out 40% or more of their income in this country is rising and it is not just lower class people. The bill does help the rich in that it allows them to shelter their income and pay lower taxes. First of all, the carried interest deduction was retained and even Trump admits this is garbage. Then you have the pass-through rates which will allow people to shield up to 30% of their income. Also passive investors in these businesses will be able to pay the lower rate on 100% of their income. Also you have the pass-through being extended to real-estate trusts which helps Paul Ryan, Bob Corker who changed his vote to yes, and Donald Trump.
Yes it can. If you are a young professional making a lot of money, the only housing in the area may be more expensive housing with higher property taxes. The Atlanta suburbs are a example. A recent NY Times analysis showed that people in the $100,000-200,000 are the most likely to pay higher taxes. This was based on the Senate bill so the numbers may have changed some but not that much. This is likely to be people in the suburbs. In terms of income, they may be seen as having it made, but the could be scarping by. Ronald Reagan did a much better job on tax reform because he wanted to do what was right not play politics.
So you know what everybody in the country's situation is. You are a arrogant ass. The fact is that Reagan's tax reform was well thought out rather than this mess. It would have been better to phase out deductions for state and local taxes. For example, full deductibility for people from $0-500,000, 500,001-999,999 75% and $1000,000 and above 50% deductibility.
dude, the rich pay more. I won't cry for them.dude, I have a 300K home and property taxes are 8k. Illinois happens to be the highest property tax state next to california and New york. so don't give me that.it's not about affordable housing but property taxes. How much your monthly payment is doesn't have jack to do with property taxes.This is confusing, I have a nice home, my property tax doesn’t exceed $10,000. I guess I’m not rich enough...wait!! I thought the bill only helped the rich and yet they will pay more? Hmmmm....looks like the media lied to us.
Sent from my iPhone using Tapatalk
Actually the cost of housing is a very local matter. We are seeing a shortage of affordable housing in favor of high end housing. I can see young professionals in the suburbs having property tax bills over $10,000 and being essentially middle class. The number of people paying out 40% or more of their income in this country is rising and it is not just lower class people. The bill does help the rich in that it allows them to shelter their income and pay lower taxes. First of all, the carried interest deduction was retained and even Trump admits this is garbage. Then you have the pass-through rates which will allow people to shield up to 30% of their income. Also passive investors in these businesses will be able to pay the lower rate on 100% of their income. Also you have the pass-through being extended to real-estate trusts which helps Paul Ryan, Bob Corker who changed his vote to yes, and Donald Trump.
Yes it can. If you are a young professional making a lot of money, the only housing in the area may be more expensive housing with higher property taxes. The Atlanta suburbs are a example. A recent NY Times analysis showed that people in the $100,000-200,000 are the most likely to pay higher taxes. This was based on the Senate bill so the numbers may have changed some but not that much. This is likely to be people in the suburbs. In terms of income, they may be seen as having it made, but the could be scarping by. Ronald Reagan did a much better job on tax reform because he wanted to do what was right not play politics.
So you know what everybody in the country's situation is. You are a arrogant ass. The fact is that Reagan's tax reform was well thought out rather than this mess. It would have been better to phase out deductions for state and local taxes. For example, full deductibility for people from $0-500,000, 500,001-999,999 75% and $1000,000 and above 50% deductibility.
Friend of mine who lives in NY said Trump's tax reform raised his property taxes $4000.
LMAO, he lied. The feds don't control property taxes in a State.
.
Another dumbass who can't even read three lines into a paragraph.
I posted from three separate sources: WSJ, Bloomberg and ABC News
And all of you idiots just want to keep that wet paper bag over your head and hope it doesn't fall off.
The feds have no say in property tax rates.
Hahahaha....You idiots just keep repeating yourselves and none of you will post anything to the contrary.
Trump is fucking us over, just like we said he would.
The new law is worse than I thought, it's not just a cap on property tax deduction at $10K.
It's a combination of state, local and property COMBINED and capped at $10K.
Another liberal half truth, here I'll finish this morons sentence for him...AND the standard deduction was nearly doubled to $12,000 for singles and $24,000 for married couples.
well I know what the highest property tax states are. And I know that for the majority of folks in all of the other states, this doesn't affect them. so yeah, I do.dude, I have a 300K home and property taxes are 8k. Illinois happens to be the highest property tax state next to california and New york. so don't give me that.it's not about affordable housing but property taxes. How much your monthly payment is doesn't have jack to do with property taxes.Actually the cost of housing is a very local matter. We are seeing a shortage of affordable housing in favor of high end housing. I can see young professionals in the suburbs having property tax bills over $10,000 and being essentially middle class. The number of people paying out 40% or more of their income in this country is rising and it is not just lower class people. The bill does help the rich in that it allows them to shelter their income and pay lower taxes. First of all, the carried interest deduction was retained and even Trump admits this is garbage. Then you have the pass-through rates which will allow people to shield up to 30% of their income. Also passive investors in these businesses will be able to pay the lower rate on 100% of their income. Also you have the pass-through being extended to real-estate trusts which helps Paul Ryan, Bob Corker who changed his vote to yes, and Donald Trump.
Yes it can. If you are a young professional making a lot of money, the only housing in the area may be more expensive housing with higher property taxes. The Atlanta suburbs are a example. A recent NY Times analysis showed that people in the $100,000-200,000 are the most likely to pay higher taxes. This was based on the Senate bill so the numbers may have changed some but not that much. This is likely to be people in the suburbs. In terms of income, they may be seen as having it made, but the could be scarping by. Ronald Reagan did a much better job on tax reform because he wanted to do what was right not play politics.
So you know what everybody in the country's situation is. You are a arrogant ass. The fact is that Reagan's tax reform was well thought out rather than this mess. It would have been better to phase out deductions for state and local taxes. For example, full deductibility for people from $0-500,000, 500,001-999,999 75% and $1000,000 and above 50% deductibility.
dude, the rich pay more. I won't cry for them.dude, I have a 300K home and property taxes are 8k. Illinois happens to be the highest property tax state next to california and New york. so don't give me that.it's not about affordable housing but property taxes. How much your monthly payment is doesn't have jack to do with property taxes.Actually the cost of housing is a very local matter. We are seeing a shortage of affordable housing in favor of high end housing. I can see young professionals in the suburbs having property tax bills over $10,000 and being essentially middle class. The number of people paying out 40% or more of their income in this country is rising and it is not just lower class people. The bill does help the rich in that it allows them to shelter their income and pay lower taxes. First of all, the carried interest deduction was retained and even Trump admits this is garbage. Then you have the pass-through rates which will allow people to shield up to 30% of their income. Also passive investors in these businesses will be able to pay the lower rate on 100% of their income. Also you have the pass-through being extended to real-estate trusts which helps Paul Ryan, Bob Corker who changed his vote to yes, and Donald Trump.
Yes it can. If you are a young professional making a lot of money, the only housing in the area may be more expensive housing with higher property taxes. The Atlanta suburbs are a example. A recent NY Times analysis showed that people in the $100,000-200,000 are the most likely to pay higher taxes. This was based on the Senate bill so the numbers may have changed some but not that much. This is likely to be people in the suburbs. In terms of income, they may be seen as having it made, but the could be scarping by. Ronald Reagan did a much better job on tax reform because he wanted to do what was right not play politics.
So you know what everybody in the country's situation is. You are a arrogant ass. The fact is that Reagan's tax reform was well thought out rather than this mess. It would have been better to phase out deductions for state and local taxes. For example, full deductibility for people from $0-500,000, 500,001-999,999 75% and $1000,000 and above 50% deductibility.
The feds have no say in property tax rates.
Hahahaha....You idiots just keep repeating yourselves and none of you will post anything to the contrary.
Trump is fucking us over, just like we said he would.
The new law is worse than I thought, it's not just a cap on property tax deduction at $10K.
It's a combination of state, local and property COMBINED and capped at $10K.
Another liberal half truth, here I'll finish this morons sentence for him...AND the standard deduction was nearly doubled to $12,000 for singles and $24,000 for married couples.
Then they cleverly slipped in repeal of the individual health insurance mandate, too, which means that everybody's health insurance is going up, whether you're on O'care or other.
And opened the Alaska Wildlife Refuge to oil and gas drilling MAGA baby!
It was the most irresponsible act of all given that we have been in an oil glut, with crude oil tank farms sprouting up all over the Texas coast and oil tankers lined up that can't come to port.
That $10K cap on state and local tax deductions is also devastating to small businesses. It's as if the Republicans all brainstormed "what would kill jobs most effectively?", and them implemented the idea.
not to us here in TN.......because we don't elect local democrats any more......except in the cities.....you get what you vote for......
maybe you'll care what govt money is used for..........Im not holding my breath.
Hahahaha....You idiots just keep repeating yourselves and none of you will post anything to the contrary.
Trump is fucking us over, just like we said he would.
The new law is worse than I thought, it's not just a cap on property tax deduction at $10K.
It's a combination of state, local and property COMBINED and capped at $10K.
Another liberal half truth, here I'll finish this morons sentence for him...AND the standard deduction was nearly doubled to $12,000 for singles and $24,000 for married couples.
Then they cleverly slipped in repeal of the individual health insurance mandate, too, which means that everybody's health insurance is going up, whether you're on O'care or other.
And opened the Alaska Wildlife Refuge to oil and gas drilling MAGA baby!
It was the most irresponsible act of all given that we have been in an oil glut, with crude oil tank farms sprouting up all over the Texas coast and oil tankers lined up that can't come to port.
Good grief okay and when the economy takes off again and oil prices go through the roof? Are you really this dumb?
LMAO, he lied. The feds don't control property taxes in a State.
.
Another dumbass who can't even read three lines into a paragraph.
I posted from three separate sources: WSJ, Bloomberg and ABC News
And all of you idiots just want to keep that wet paper bag over your head and hope it doesn't fall off.
The feds have no say in property tax rates.
Hahahaha....You idiots just keep repeating yourselves and none of you will post anything to the contrary.
Trump is fucking us over, just like we said he would.
The new law is worse than I thought, it's not just a cap on property tax deduction at $10K.
It's a combination of state, local and property COMBINED and capped at $10K.
Another liberal half truth, here I'll finish this morons sentence for him...AND the standard deduction was nearly doubled to $12,000 for singles and $24,000 for married couples.
What you forget to add is the personal exemption. In 2017, the combined standard deduction and personal exemption will be $10,400 for single taxpayers and $20,800 for a married couple. Also this was indexed for inflation which the new standard deduction will not be. That means the standard deduction will be worth less each year. The reason for this is to take the money and give it to corporations.
that interest deduction is equal to all states. Not property taxes. hly fk. when you lefties going to understand taxes?so the rich have to pay more in taxes right? isn't that what trump said? you called him a liar. looks like that liar is actually you! spin. weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeTrump didnt raise property taxes, you fucking idiot.Friend of mine who lives in NY said Trump's tax reform raised his property taxes $4000.
He lowered a deduction. Sorry your rich friend will have to pay his fair share
He was already paying $22K a year. He pays more in property taxes than you make cleaning toilets in a whole year.
Read the article before you make yourself look even stupider.
You look like the liar to me. The rich will have plenty of opportunities to shield their income from taxes. That more than makes up for the loss of the state and local tax deduction. The carried interest deduction was retained and even Trump agreed this should have been gotten rid of. I can see campaign commercials where Trump talks about getting rid of the carried interest deduction and pointing out it is still in there. Also the pass through provision helps businesses who make millions not small businesses. Also the real estate deduction creates a tax shelter for the rich to hide their money and have it taxed at a 24% rate rather than a 37% rate.
Another dumbass who can't even read three lines into a paragraph.
I posted from three separate sources: WSJ, Bloomberg and ABC News
And all of you idiots just want to keep that wet paper bag over your head and hope it doesn't fall off.
The feds have no say in property tax rates.
Hahahaha....You idiots just keep repeating yourselves and none of you will post anything to the contrary.
Trump is fucking us over, just like we said he would.
The new law is worse than I thought, it's not just a cap on property tax deduction at $10K.
It's a combination of state, local and property COMBINED and capped at $10K.
Another liberal half truth, here I'll finish this morons sentence for him...AND the standard deduction was nearly doubled to $12,000 for singles and $24,000 for married couples.
What you forget to add is the personal exemption. In 2017, the combined standard deduction and personal exemption will be $10,400 for single taxpayers and $20,800 for a married couple. Also this was indexed for inflation which the new standard deduction will not be. That means the standard deduction will be worth less each year. The reason for this is to take the money and give it to corporations.
What you forget to add is the increase in the child tax credit which is $2,000 per child cash money on your pocket not simply a reduction in taxable income. Also those of us at higher incomes got screwed out of our personal exemption under the current tax code. Not true of the new child tax credit which is now given to those of us at higher incomes.
Another liberal half truth, here I'll finish this morons sentence for him...AND the standard deduction was nearly doubled to $12,000 for singles and $24,000 for married couples.
Then they cleverly slipped in repeal of the individual health insurance mandate, too, which means that everybody's health insurance is going up, whether you're on O'care or other.
And opened the Alaska Wildlife Refuge to oil and gas drilling MAGA baby!
It was the most irresponsible act of all given that we have been in an oil glut, with crude oil tank farms sprouting up all over the Texas coast and oil tankers lined up that can't come to port.
Good grief okay and when the economy takes off again and oil prices go through the roof? Are you really this dumb?
The economy was taking off under Obama and he had nothing to do with it just as Trump will have nothing to do with it..
This is confusing, I have a nice home, my property tax doesn’t exceed $10,000. I guess I’m not rich enough...wait!! I thought the bill only helped the rich and yet they will pay more? Hmmmm....looks like the media lied to us.
Sent from my iPhone using Tapatalk
Actually the cost of housing is a very local matter. We are seeing a shortage of affordable housing in favor of high end housing. I can see young professionals in the suburbs having property tax bills over $10,000 and being essentially middle class. The number of people paying out 40% or more of their income in this country is rising and it is not just lower class people. The bill does help the rich in that it allows them to shelter their income and pay lower taxes. First of all, the carried interest deduction was retained and even Trump admits this is garbage. Then you have the pass-through rates which will allow people to shield up to 30% of their income. Also passive investors in these businesses will be able to pay the lower rate on 100% of their income. Also you have the pass-through being extended to real-estate trusts which helps Paul Ryan, Bob Corker who changed his vote to yes, and Donald Trump.
Maybe this will help. 10 States With Highest Property Tax Rates
The average property tax payment is $3296, so spare me the BS, you would need a pretty nice home and have to be making a good living to afford a home that the property taxes are over $10,000.
Then they cleverly slipped in repeal of the individual health insurance mandate, too, which means that everybody's health insurance is going up, whether you're on O'care or other.
And opened the Alaska Wildlife Refuge to oil and gas drilling MAGA baby!
It was the most irresponsible act of all given that we have been in an oil glut, with crude oil tank farms sprouting up all over the Texas coast and oil tankers lined up that can't come to port.
Good grief okay and when the economy takes off again and oil prices go through the roof? Are you really this dumb?
The economy was taking off under Obama and he had nothing to do with it just as Trump will have nothing to do with it..
Ah, I destroyed your stupid post so you deflected that's typically what the left do.
The feds have no say in property tax rates.
Hahahaha....You idiots just keep repeating yourselves and none of you will post anything to the contrary.
Trump is fucking us over, just like we said he would.
The new law is worse than I thought, it's not just a cap on property tax deduction at $10K.
It's a combination of state, local and property COMBINED and capped at $10K.
Another liberal half truth, here I'll finish this morons sentence for him...AND the standard deduction was nearly doubled to $12,000 for singles and $24,000 for married couples.
What you forget to add is the personal exemption. In 2017, the combined standard deduction and personal exemption will be $10,400 for single taxpayers and $20,800 for a married couple. Also this was indexed for inflation which the new standard deduction will not be. That means the standard deduction will be worth less each year. The reason for this is to take the money and give it to corporations.
What you forget to add is the increase in the child tax credit which is $2,000 per child cash money on your pocket not simply a reduction in taxable income. Also those of us at higher incomes got screwed out of our personal exemption under the current tax code. Not true of the new child tax credit which is now given to those of us at higher incomes.
A couple does not have a child nor does a single person so we are not talking about a child tax credit. The new standard deduction is nowhere near doubling.
