PROPERTY TAXES About To DOUBLE! Are YOU Ready?
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- เผยแพร่เมื่อ 3 ก.ค. 2024
- Did you buy a home in 2022 or 2021? Did you pay significantly more for the home than the previous home owner? Then you may be in for a big surprise. If you're like me, your property tax bill could be about to double, are you read?
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Housing INVENTORY Is About To EXPLODE!! th-cam.com/video/74kDE77GbCU/w-d-xo.html
Biden and the Dems forgiving massive debt (i.e. buying votes) and thereby increasing inflation. Meanwhile Powell and the Fed are desperately trying to decrease inflation . I'm not hearing youtubers talk much about this contradiction even though its very obvious. They are literally working directly against each other at this critical time. It's not good.
does not mean taxes will go down because the county usually increaes the tax rate .
The real crime is that the college's are allowed to charge that much in the first place.
This is the root issue
Absolutely!
@@VagaBohn And student loans are WHY they charge so much, after all anyone can get the money 🤣🤣
If the colleges took on the risk of the loans, tuition costs would plummet.
Even $7800 property tax on a 3 bed Condo (even on the water) is outrageous. Not to mention your HOA etc. Governments are out of control. Taxes are out of control.
Insurance in Miami double the price on 2022. It is all the billions printed on 2020
Vote Republican if you don't like it
I love my ca tax yes 21 years same place.1600.00 a year taxs.
@@xfhnhhgjbvcfg, the Republicans are running Florida and Texas. They have grown the size of government and demanded too much in taxes. Californians pay less taxes.
@@9libertybell it's less than the national average I believe, but I agree it's insane.
Back in the 1990s, I worked for a junior college. I saw firsthand students choosing a major out of thin air without much thought. A lot of students were not inspired, but are pressured to enroll in order to keep child support going for a few more years. Still others enrolled to stay on their parents health insurance (Obamacare came much later). Changing majors is a common reason for racking up student debt. Another is having to repeat courses because students do not come out of high school prepared to do college level work (College Algebra and Calculus are two classes with high repeats).
Colleges are in the business of selling degrees -- period. They must convince their customers (students and parents) that what they are selling is essentail, and that you will not be a success in life without it. Classes are the product/service, and must be filled in order to keep tenured professors employed and cover maintenace and operating costs.
You pointed out the real issue that degrees are a commodity and the reality is 90% of jobs out there could be learned through a much quicker and cheaper apprenticeship type program
They're also utilized to exploit the shortcomings of the parenting.
@@MichaelBordenaro The trouble is that so few 18 year olds these days are mature enough to enter the workforce. When I was growing up, if you wanted to go to college but your parents could not afford it, you went into the military. Hate to say it, but most of the students that I saw who had to drop out of college did not do it because of personal hardship, but because they lacked the maturity to cut it in college without someone there to hold their hand the whole time.
Well said mate! And.... the administrative salaries seem out of control.
Exactly right
Some great information. We’re definitely in a recession. I got into the building trades at 18 and 38 years later I’m still at it. Making 6 figures with no college debt or degrees hanging on my wall. Thanks for sharing your knowledge.
I went to a junior college paid my way through...no debt, own my own business as a Drafter Designer in Central Florida
Thats an awesome story Scotty! And we need people like you now more than ever!!
Glad to see that someone is pointing out monthly property tax obligations!
I understand your concept on paying for other individuals student loans. My question is this. Did you have the same reaction when your taxes paid for all the bank bailouts after they sold bad loans, crippled themselves and then immediately got million-dollar bonuses when the Federal money saved them? I'd rather pay for the 87% of recipients that make under $75k a year than pay for a rich swindlers next vacation splurge.
Exactly! I have no student loans but the same goes for the PPP funds.
@@yc3822 not exactly..the government forced people to close their business under threats of fines and imprisonment. They were obligated to at least cover payroll costs. If they hadn't theynwoukd be in court for the next decade.
Student loans are not the same. It's a scam also, sure, but student loans are a choice. And there alot of people don't use them..
Joe Biden knows those student loans aren't getting changed. He doesn't have the power. It's just a way to get votes.
They also decided to let the homeless have hotels in California. Not because they care about the homeless who have been on the streets for a solid 6 years. But because their losing very badly in the polls and they are going to lose the power they crave..
They are literally buying votes. Nothing else.
Army paid for my schooling and I couldn’t agree more with your comment. Amazing to me so many people will come after other middle or lower class individuals and not the fat cats at the top always being bailed out. How is that capitalism?
75% of the benefits of student loan forgiveness will go to people earning $88,000 or less per year, according to White House estimates.
Yes I do have the same reaction, same outrage. Only difference is I wasn't making videos back then to talk about it. This is just the latest injustice.
I love that you are always keeping it real Michael. Not many people are so open about how much their mortgage/taxes are and its extremely helpful for people trying to figure out the cost of living before moving to the area and what they can expect to pay. Thank you!
Keeping it real is what I do!
I graduated from UC Berkeley with a degree in mathematics and work as an actuary. I don't have any student debt because both of my parents worked two full-time jobs while I was in school and I went to community college (which is WAY cheaper) for the first two years.
Student debt may be forgiven up to $20,000, not $10,000, if you have both a loan and a PELL grant.
Don't get too excited about this, since the president's authority to do it by executive order is going to be challenged all the way to the Supreme Court.
Michael's right, college is not for everybody. College is also too expensive, and nothing is being done about that. Congress passed a tax credit of $7,500 for electric vehicles made in the US and guess what? GM and Ford raised the prices of their electric cars by $7,500, so there goes that "windfall" to consumers. Forgiving student loan debt just ensures that colleges can keep charging students sky-high tuition.
If this were going to be done fairly, Congress should pass a law that gives ALL young people a grant of $20,000 to go to college, go to trade school, start a business (like Michael did), etc. It's not fair to just focus on people with college debt, but the younger generations DO need some kind of boost, because we Millennials and now Gen-Z are so far behind where the Boomer and Gen-X were at our age, it's not even funny. My husband and I both work full-time, live frugally, and have zero debt, but we're probably never going to be able to afford a home. We've been trying for years and haven't even come close, and I mean BEFORE prices went crazy from 2020 onwards.
The whole thing has no coherency, it's just the president's attempt to buy votes. Just remember that whatever you subsidize ALWAYS becomes more expensive, as has just been proven by the raising of electric car prices. We do need to do SOMETHING, but this is not that "something".
You selfish only speak for yourself. Why only "young" generation?
No generation should be 'privileged'
@Ellen. I do agree with you, however the generations before you invested as well. Some people are coming out of school with great degrees and are making bank. Everyone should be responsible for their own debt. No one forced anyone to sign on the dotted line, as no one forced me. But I worked very hard as you did and paid mine off. Little did I know my career would be taken away in healthcare due to the vaxx mandates. My earning potential decreased drastically.
I hear ya on the student loan forgiveness but I’ll say this: everyone is acting so outraged over it. But no one said a word when all the PPP loans were forgiven-many of which were fraudulent. 🤷♀️
Supposedly they are going to go after people who fraudulently took the money. Lets see
Same thing with all the other tax breaks others have to pay for.
Many people complained. No one cared.
PPP loan forgiveness was wrong and student loan forgiveness is wrong...PPP loan forgiveness wasnt in the news much,thats why there was no outrage over it..someone will have to pay for all of this and it will be everybody in higher taxes and inflation
I was upset when they were handed out to being with
Thanks for your transparency
A college degree is the biggest scam going on. Because there is no guarantee that you will get a job in your chosen field of study. Ive always thought the employer should pay for their employees education since it is the employer who requires that you have the education in the first place
Great idea imo and is often the case from my experience in the medical field where people are always needed. Our society and most societies needs to change the idea that people must go to college to earn a livable wage.
I totally agree! Those giant universities charging like $250k for a career is INSANE and a SCAM.
Community college is cheaper and they provide skills that pay great wages and less loan money
Thank God my husband is a 100% disabled Veteran it's one of the best rewards to his having served = no property taxes (in some states).
@Zen Amen. And guess what! Your husband deserves that. Please thank him for his service. God bless you both 🙏❤️
@@danacaro-herman3530 Aw, thank you so very much. He will appreciate your comment. Brings tears to my eyes. 🙏
Love your videos!Thank you Michael. Congrats on the new place!
Yes, my youngest 2 kids skipped the college & have great paying jobs .. infact, they are often offered positions at other companies, bc they recognize a good worker who actually does there job & SHOWS UP!!
There you go!
Speaking of Homestead Exemption in Florida, there is also a "death benefit" where creditors can't claim debts on your homesteaded property. I sold a home for 3 children (who were adults) of a woman who had medical expenses that exceeded her Estate. She was able to keep the Homesteaded property out of her Estate that was in the negative. Her children were able to split the proceeds of the sale. Always consult an attorney about these things though.
I feel sorry for those who had to go through this like yourself. Thanks for sharing.
Totally agree with you on the student loans!
Thank you!
You're welcome!
We are in pre deppresion!
The one area where I think was wrong was taxes will not be raised because of student loan debt forgiveness… that I think after you research you may want to correct that statement. Research what happen with PPE loans and that forgiveness…. No one complained about that debt forgiveness! This is a great thing… I went to college in my career and salary prospered because of college… Education is always a wonderful thing… It just needs to be made more affordable for future generations!
I made a similar decision when I was 17, I skipped my last year of high school and began college classes in 1973. All I ever wanted was my name on a shingle, Ph.D.
My parents helped me with some tuition and they paid half my rent until I finished my bachelor's degree. I paid 100% for my masters and doctorate degrees by myself---at all times during my college career I had to work full time all day before classes usually started around 7 pm, 3 times a week. So, I understand the "20 year hussle" you're talking about.
When I started down the academic road, tuition was dirt cheap. Tuition was significantly more expensive by the time I was working on my doctorate---I graduated with a "0" balance, Bursar's office at USC.
What's wrong with this picture today? When the price of tuition went up so far that nobody (and their parents) could afford it, predatory lending swooped in and plowed the field---took students (and their parents) for a good clock-cleaning!
Anyway, I enjoy your channel very much and I want you to keep it up---bc it looks to me like now you're really, finally on your way! Regards, Cyndi Dash
You are so correct about not bailing out debt. We learned that we needed to pay any debt we signed for. Can You say government favoritism ? Makes me cringe every time I pay taxes.
I love your vídeos May God bless you Michael 😍😍😍
Thank you for sharing!
My pleasure!
My taxes just went up a lot. I have escrow built in, but because of the property taxes exploding, it went into an escrow shortage... I had to mail in a huge check to the mortage company's escrow department to cover the escrow shortage. Or the alternative is that the mortgage amount would go up significantly, but I get jollies from trying to keep the amount as close to the same as possible. If anyone doesn't understand this, it is a fixed rate.
Oh yeah, this is probably going to happen to many new buyers
PBS did a great documentary on student loan debt. Most of the inflated debt was due to predatory lending and marketing practices from colleges like the University of Phoenix. They prey on "underserved populations" (ie: mostly poor people who don't have other life options, and are operating on the "dream mentality".) The predatory lending and student loan machine is a force to be reckoned with. The key is EDUCATION! Don't get sucked in people. Educate yourself and ask questions. Do your homework!
@@williamlyons3947 Predatory lending is giving people loans who cannot afford to pay it back. They never complete the program. Then default on the loan.
@@williamlyons3947 They should but like i said previously they are "underserved" populations, so they lack education. Operating on a "dream".
I have no doubt that is true
@@williamlyons3947 Most people are incredibly bad with money. We need to teach financial education to high schoolers. Our high school counselors had sessions with every graduating senior who was college-bound so we could avoid that kind of stuff. The University of Phoenix is a huge scam.
@@williamlyons3947 How many mature 18-year olds do you know?
That's 1 reason we will never sell our house in CA, bought 25 years ago and property taxs are very reasonable.
Come on…you know you want to move to Texas 🤠
move to Mexico is better!
@@SIGNALFREQ property taxes are very very high in Texas
Wow Florida was known for low taxes why it’s getting up there.taxes around 7k and some people have HOA on top of that 300 or more a month that will put you in double digits in a year.that comes out to New York taxes
Its definitely gone up but at least we still have no state income tax
Traditionally. But more people moving in means more services which equals a higher tax bill
Big fan of the channel micheal you do a phenomenal job. I’m 20 and decided to go to trade school for hvac.
I went to college & it became unbearably expensive. I’m an architect now but owe as much as a doctor Michael, I had no control over that
No homestead exemption in Hopkinton Rhode Island. I purchased in Feb 2019. 2020 Tax assessment increased by $50,000. Raised my taxes by 12%. I wasn’t expecting it but I was lucky it was only 12%. I understand property taxes much better now
Thanks
No problem!
I agree with you 100% on this college giveaway. When you contract a debt you should reimburse .
Agreed most will see increase and will be shocked, fortunately ours stayed same in NE FL, we bought in Dec '21 home with no homestead exemption, got portability our homestead exemption, so county raised value by 65k, minus 50k homestead, so releaved 😅
Nice!
Thank you Michael for this much needed education on sound finances which goes beyond the scope of real estate. I also appreciate many the commenters here with level headed thoughtful analysis. We have a huge bilateral divide on many issues but unfortunately not on fiscal responsibility. Every administration provide handouts that only differ in the form of tax cuts or spending programs, and the difference of to whom the money goes to is the primary point of argument. But the general public is happy with having the cake and eat it too, such a big cake that we have nothing to worry about in our lifetime, right?. I’ll say it’ll be healthier to start thinking our country as our HOA, we’ll be making much better financial decisions and hold the board accountable.
You speak with common sense unlike most other TH-camrs. Thanks for posting.
I appreciate that!
More than homestead tax exemptions, she was beneficiary of save our homes act which also pertains only to homestead. Perhaps that was what your referring to.
Being an entrepreneur is hard, a real grind, and not for the faint of heart.
just remember.. when your property taxes goes up the insurance company has no choice but to use the new appraisal values for your insurance bill... so if your taxes are going up so will your insurance go up..
Mr, I have some swamp land i want you to take a look at, Dump Garbage in front of your house and put an engine on a hoist in front, that should help with the assessment
$9000 taxes on a half million dollar condo? I'll be staying the hell out of Florida. No thanks!
Haha you've been warned! To be fair, I live in Miami Dade literally the highest tax county in all of FL. It would be less in another county
Hey, that's only Florida.
Texas has very high property taxes, as well.
Our Trade School in WV offers LPN also and Drafting with 3D imaging. There's many opportunities without going to college for 4 years or longer. They give financial aid to almost everyone and they have schedules that will work with people that have to work. They also offer to get a GED. There are different options for people and it takes some backbone to do this and work on being disciplined to become what is needed.
In Idaho(east California) where I live house values have tripled. DOesn't help me(social security). SO state politicians say they want to do away with tax levies and go to an 11% state sales tax(which will probably end at 12%) I've been told this by state legislators. THey say they can do away with property taxes altogether. Who are they trying to kid, they will never get rid of property taxes!!!!!!!
I’m in Canada but find your channel and info very useful.
Toronto has been a hot market for years and as a result, all of the surrounding towns have gone up in value too. Now that the interest rate has consistently risen, we’re seeing some pretty decent drops in price from the Feb highs. My wife and I sold high in May and have been in a short term rental, ready to buy in the Fall. We’re weary of trying to time the market, because we know how fast things can change and suddenly not be in our favour. That said, your perspective is right in line with ours so it’s great to get an experts opinion on how to handle the market. Thanks for posting
That is so cool to hear JL! I love hearing from my international viewers to get a perspective of whats happening outside the U.S.👍
WOW. I live on the beach in Myrtle Beach IN a 3 bed 2 bath and my taxes are 360.00 a year
Preach bro!!!!
At the State College level, tuition in Florida is about 200 per credit hour with the average load of about 12 hours per semester which is $4800 per semester. Other than dorms, student housing is about $750 to $850 per month plus utilities. This adds another $3,200 +/- per semester quadruple occupancy.. In Floida you have Bright Futures scholarships if the student did reasonably well in HS and continues good grades in college. Pays for basic tuition but not additional program costs. Does not pay for housing. We seem to come around for all of us that housing is a big problem and student loans get way out of whack with this figured in
Thank you for sharing your thoughts about the Government offering to pay student loan debt with our tax dollars. It's good to know that the guy whose videos I watch 2 or 3 times a week shares the same mindset as those of us who have it figured out. So glad that things are starting to cook for your business. It does take time and extreme effort to be on the plus side of life through entrepreneurship ! Congrats man ! I myself was able to attain a decent 6 digit income during my working years without a college degree.. BTW .. kick ass amp that you have there. (Noticed on a much earlier video) I hail from Aurora IL , and am an intermediate + guitar player. So we have some commonality. Now in Winter Haven FL .. Keep up the good work man ! And Thanks for all your time on these videos !
You're welcome Dennis, nice to hear from like minded viewers as well! It does take a ton of grind to get to where you want to be through entrepreneurship and a lot of people never make it. Its a tough path for sure. I love that amp!! Both IL dudes that decided FL was the place to be 😎
I went to college and it absolutely helped me out in getting jobs due to the school name that I went to. I had several employers make a big deal about the school name despite me never really emphasizing in interviews that I went to that particular university. It's all about branding with schools and employer perception, not really the degree itself or your GPA.
Hi Michael, can you please do an updated walk tour of surfside and some listings there. Thanks!
I was just there a couple weeks ago in this one th-cam.com/video/SFW2a9y0-bk/w-d-xo.html Not sure if you saw it
no way 76%! wow that's crazy man
It already happened in my part of Texas.
I'll bet! TX is notorious for very high property tax
Yes, incredibly hard to find a good plumber & handyman. The good ones have long wait lists.
I cannot personally speak for all of the municipalities and Provincial property Tax assessments throughout Canada.
Grew up in Vancouver BC. Currently residing in the Okanagan area of BC.
Housing generally is unaffordable in these and many areas of Canada full stop.
However the property tax bills in Canada (again AFAIK) are ostensibly nowhere near what I have seen read and heard about throughout the US (again depending on the area).
I am absolutely floored by the tax bill shown in this video for a half million dollar residence.
I have heard about similar property tax assessments in Texas as well.
Just wow...
Yes that is one of the downsides of living in a no income tax state like TX or FL, our property taxes are higher.
Michael, I’ve heard (I’m from Illinois) that homeowners insurance and auto insurance in Florida is getting to be really expensive- if you can find an insurance company that is not out of business. Can you please talk about this issue?
Hi Len, yes I have a segment about FL insurance in todays video, and I'll continue to put stories about it in new videos as they develop
Great video! All shot on iPhone with Gimbal? GREAT video quality
Thanks! Not even a gimbal, just a handheld tripod!
All good stuff Michael. Cheers from Scotland.
I'm interested to know what qualifies you for this homestead exemption because when the day comes that I buy in Florida I want to be able to qualify. Also I agree with you on the student loan nonsense.
Rent 2 Landlords | Buy 1 Landlord 🤔
Rent 5 and live in Cheap apartment just 10 years $$$$$.
So why not apply for homestead exemption as well?
when younger people ask what they should do for a sable income, I tell them learn how to install/service hvac systems. Get certified and you will have work for the rest of your life. As a robotics engineer I can tell you with certainty, that won't be automated anytime soon. It's going to be a very long time until we have robots advanced enough to go into people's homes and service legacy hvac systems.
I work in the customer service field and have many heating/ac company accounts. You are absolutely right. Certified and trained, good hvac technicians make a lot of money. The service charges are very high in my area and if customers need after hours emergency service, they can expect to pay thousands for it.
We have "Texas Tax Protest" here in Texas. I have a protest pending. I heard they aren't budging. The 2022 tax bills post Oct. 1. Last year the property taxes were $2144 and the house was not homesteaded by Open Door. Waiting with baited breath.
You r the best!
Thanks!!
Wow You call that a deal ! OMG My parents bought there brand new bi level home back in the day for 35k. Crazy Crazy..
Its crazy whats a deal now days...
That’s normal
I agree with you about the student loan farce. I did go to university, did one useless and one useful degree, and paid them both back while working full-time on an entry level salary (started at $30,000). My interest rate was 7% on that debt for the ten painful years it took me to pay it off, and after all the basics like rent, food, utilities and that student loan payment, I literally had nothing left. But I hunkered down like a good debt slave and paid it because I knew that if I didn't and declared bankruptcy (like a bunch of my friends did at the time), lenders would become more restrictive, making it harder for other students in need to get funding. I've been debt free now for about 12 years, and still haven't been able to purchase a home because I had to build up savings after digging myself out of debt, but every year that I saved, interest rates sent home prices soaring further out of reach. But those years of frugality did teach me a lot of great lessons: I live within my means, I'm responsible, self-sufficient and not a burden to society. So, long, LONG story short, NO, it makes no sense that rest of society has to pay for other people's education, especially in the case of lower income and single parent wage earners having to subsidize couples who are earning $200,000 year right out of college. Absolute nonsense and I hope it gets shut down in the courts.
Amen! I give you alot of credit too! For PERSONAL RESPONSIBILITY! 👍 Hope you do eventually get a house! You sound sensible!
As I mentioned in my post--we need to help these kids from predatory lenders. There are alternatives to pay for college without getting a loan and without massive debt. So I am sorry that happened to you. For fun and helpful information watch the program Adam ruins everything. He does an episode on predatory loan practices and how college students got caught up in these. The program also recommended Community Colleges as an affordable alternative. I also don't like the idea of bailing out people with these college loans. But what I like even less is paying higher insurance costs from the billions of dollars we spend bailing out the people who live in Florida after massive destruction from hurricanes. Only for them to re-build those fancy homes at our expense. Other states are like that too. At least a college student will be a tax paying citizen or provide a useful service.😊
@@ilikecontent2327 It's not the lenders who are predatory. It's the colleges. They set the tuition prices. The lenders are just taking advantage of what the government created: government insured loans with no lending limit.
It's the government sticking their hands in college that has created this mess. Fix that, and you'll fix the outrageous lending.
@@Dubbadizzo86 Yes. I would agree with that. A big part of it is because state budgets have been slashed for colleges. In years past they had as much as 60-70% funding assistance which helped keep tuition down and affordable.. Now they are funded at about 30% and the only way to keep good faculty, facilities, staffing and so on is to raise tuition, but even then they are restricted on how much they can raise it..
Hence why they recruit foreign students as they pay higher tuition.. And you have to be careful and watch the employment history of college graduates, the schools fiduciary responsibility, department of education fiscal health score(very important as it tells you if an institution is in danger of closing), tuition value as opposed to hireability.
The Ivy league schools do quite well, but a number of other schools are scrambling to get enrollment numbers up.
Employers with the higher tech jobs need well trained highly skilled workers. When they can't find enough they go outside the country to recruit. Similar to what the NFL does. If you can't find the talent locally you look elsewhere.
Also foreign students pay higher tuition and it helps prop up funding. In the end though. Getting a degree still boosts your lifetime earnings. But as the old saying goes--Garbage in Garbage out. You have to pick training in a field that is high skilled. That is your best bet. Or an area that is in demand. And you don't need to go get a loan and go in debt. 😊
I also agree with not paying for others decisions but why is everyone mad when people pay for other peoples tax credits? Child tax credits, homeowners tax breaks, business tax benefits. People were ok with paying for other decisions until a college student gets some relief. What’s the difference?
I went from 7k to around 9k in Miami lakes..
Still a size-able increase!
If they had a previous homestead in Florida, then through portability, they can carry forward the save our homes benefits will carry to the new home up to the assessed value of the previous house.
Yes I know but I was renting prior so I don't have that.
My sister bought a house in Conroe, Tx. (north of Houston) 2 1/2 years ago. She just put it back on the market and it sold in a week for $95,000 more than she paid for it. Even after all costs associated with the sale were figured in she still probably made over $80,000. Real estate is like a double edged sword. It can bankrupt you, but it can also make you a lot of money. For most people, under the right circumstances, real estate is the best investment on the planet.
My son skipped college and became a graphic designer through apprenticeships. His girlfriend makes a similar salary to his but she graduated from SCAD with $100k is student loan debt.
There you go!! Easy to see who's really ahead in that scenario👌
Everything is over valued. Bound to come back to earth eventually. 4K a month can’t be sustained by the average income.
Those are some buttugly 2 million dollar homes. People really pay that much just to look at a beach?
Yes they do!
Or just to say they own a home there. Most of these people that own these million dollar homes own the beach just visit in the summer. But they can flex on their millionaire friends.
thx for the update on florida real estate, its crazy here in california, at least in florida theres lower cost of living.
You're welcome! Although the lower cost of living in FL is becoming a thing of the past.
Utilities here in Colorado have gone up, just like the cost of food and gas. I Forgot to add home owners insurance, car insurance and property tax has gone up
I have had more questions on property tax this year than in last 15 in Florida real estate. I just did a breakdown video myself
Not here. A 2% per year cap law is in place.
Why would they double when property value will be in free fall?
What is the property tax rate in the Miami area?
Excellent vid Michael! And I totally agree with you on the student loan debt thing as well!
Totally agree, college or university for me is totally waste time and money, just pay off my college debt, and my current job dont need a college degree, even if you have uni degree you still need to get a professional license so makes no difference!
Friend of mine in Orlando went up 72%
There you go!
I LOVE the pink sidewalks. So "Florida".
Outrageous..i would have to leave
This was a BIG sticker shock for us when the taxes were re-assessed after buying. We bought back in 2017. If you sell your main residence and buy a new one within the same county do you avoid the big jump ?
I’m not sure how it works everywhere but in Florida you can transfer your homestead exemption from one property to the next keeping your tax base lower
No condo is worth more than a hundred thousand
How much is the insurance?
Totally criminal this student loan stuff. Hopefully someone will get in and stop it. I just finished up school and worked so much and paid in cash. My friend decided not to go to school because of the costs and I just think its crazy that if I got a loan he could have been forced to pay off my loan in taxation or inflation. The books I had to pay for in school were like $300 and were no where near as good as the $20 books I get to learn things after school.
Then take the $10k the government gave you in relief and give it to your friend for school.
The Army paid for my education and I’ll never go after the little guy for getting a break.
It is definitely a recession. However, we should each live our life like there is a permanent recession "looming". The people who don't "feel" like it is a recession are the ones who are well off, have homes and cars paid for, little or no debt, a job/income stream, and the skills/ability to manage their finances well. The ones who feel the recession deeply and are struggling to make it right now are the opposite of what I just mentioned.
Yea it feels so weird having no debt. Fully funded emergency fund and a paid off house and car at the age of 29 atm.
ouch, i'd be walking a lot too. after being bent over that hard I wouldn't be able to sit either.
Everybody has been bailed out but labor.
The financial sector is continuously bailed out.
The political sector is continuously bailed out.
The worker is continuously required to work HARDER for both of them.
It'll be nice if you could provide a snapshot of the data as you mention it.
Sometimes it comes in article format, so its not always practical, but if its a chart, I'll try to remember to put it up. I always link the stories /data in the description if you ever want to check it out.
There is no incentive for collages to do anything but increase tuition costs, just the opposite.
I don’t understand why if property value goes down why does property tax go up?? 🤔
They don't, if property values go down, the taxes do as well.
How do you apply for an exemption
You need to do that with your local county appraisers office.
Naaa that kind of tax is a complete ripp off , is it worth Miami , don't think so , always great walks and info
It is what it is, my wife and I decided to stay here a few more years since her business is here and its still affordable for us. In the future, our place will make an excellent rental property.
0:18 Not everyone who bought will see prop tax increases. In AZ property tax is based on assessed value, not current market value. Here in Phoenix I've paid about $1400/yr 15 years ago and about $1600/yr now. The house value has gone from $200k to $550k. If someone buys it today their prop tax will be about $1600/yr... no big change.
I hear many people saying they want to move to TX and FL for lower taxes. Makes little sense to me.
You are not a new buyer, you've had your home for 15 years, of course you're not seeing big increases!
Since you just bought in Miami, who are you using for homeowners insurance? I know like there are literally no companies left to insure new buyers
Sounds like the foothills in San bernadino ca.bastards just drop you for no reason. So your left with getting insurance 40 percent with a new company and 60 percent with the ca fare plan.
The pickings are getting slim. I have Edison.
@@MichaelBordenaro I’ll check them out thanks!
Interesting seeing some expensive big cars (that are probably valued at 3/4 of the price of the house alone) in the driveways of some of these homes that are probably very expensive (but don’t actually look like mansions!). Unless they are paid for in cash or the owners have a guaranteed income for the foreseeable future to pay them off (with interest) then I’d rather bank the money or put the money rather towards an investment in a studio apartment to rent out etc. with tough times ahead for the world, people need to look for ways to down scale and save money (especially with depreciating financial liabilities like cars) because anything can change at the drop of a hat and the cost of running a home with taxes and insurances is not something buyers always take into consideration when calculating affordability. It’s one thing to buy a home, and another to maintain and run it!
I bid on a home in Tucson for about $550k back in 2020. Beautiful 360 views. Got outbid by $50k. Cash.
That was then.