I'll never forget these words from my Political Science professor when I was in college. He was a passionate teacher and kept us debating his often radical points-of-view about the American government and politics in general. Of course, this was back in the 70s and it was a radical time.
My poli-sci professor argued that we could never really own property in the USA, and in fact, home ownership was a myth. "You don't own your house... the bank and the government own your house," he would say provoking a debate. He maintained that even if our home was paid for, we would always continue RENT our property from the government and the rent is called "property taxes." "Just stop paying your taxes to see how long you will stay in your house," he asserted. Yeah, I think he was on to something here.
I got my ID property tax bill today expecting a reduction in my taxes. After all, our property value dropped almost 13% last year. But guess what? The local government raised the levy... the tax rate used to calculate taxes... so my taxes actually stayed the same. Well, maybe not exactly the same... they're ~$12 less. So yes, when you read in the local paper that taxes went down, it's technically true. And yes, I guess your landlord has the power to raise your rent, especially when you have no lease.
Home Ownership is a Myth!
November 24th, 2009 at 04:22 am
November 24th, 2009 at 03:07 pm 1259075228
However... you CAN own the peace of mind, and you can own the "leased" property's worth. For all practical purposes, that to me is good enough.
November 24th, 2009 at 07:55 pm 1259092535
But I am too lazy to revolt. so we pay up.
December 1st, 2009 at 07:21 pm 1259695279