Create a tax limit for property taxes State by State.
Something has to be done about property taxes. We pay for our homes. We pay Taxes on our homes. When our loans are finished, we still continue to pay.
Example. Someone purchased a home at a 2. 875 % interest rate in 2021. The monthly mortgage started at $1,700.00 a month. Due to property Taxes in the county and state, they are now paying $2,035.00 a month. Those people have already received notice that due to property taxes, the mortgage will change again to $2,200 starting 2025. This is a standard 4 bedroom home on 10 acres.
You would not even be able to rent the home out with this amount.
What I want people to realize from middle class America is, how can we live the American dream we have worked so hard for, to have taxes, drive us out?
Please create a tax limit that trickles down to the amount a county can tax you in each state.
This is an example of a Minnesota property on a standard 30 year mortgage loan. As a citizen of the United States that has worked so hard to achieve what we own, I can’t image what the payment would reflect by 2035.
Middle class is drowning.