It's Time For Medicare (whether I want it or not)

[Larry Caldwell]

I couldn't read the whole article since it made me nauseous. Of course as mentioned the answer is punish the successful, those who paid the most INTO S.S. over the years.
My 95 yo Mother pays taxes on her social security as income.
Robin Hood was right!?!

I pay federal income tax on 85% of my SS. It's their version of means testing. Without touching savings, my wife and I have about 2x the median US household income, plus no mortgage, car payments, or debt of any kind. I have to admit that while it would be nice to keep the money, we really don't need it.

 

[Molalla1]

^^^^^^^ agree Larry.

on edit I still believe that we should not have to pay taxes on the home we live in.

 

[Larry Caldwell]

^^^^^^^ agree Larry.

on edit I still believe that we should not have to pay taxes on the home we live in.

Talk to your county about that. Where I live, my property taxes are only $2200/year on a house in a gorgeous setting on 90 acres, shop, and barn. I know people in the Portland area who are paying 4x that much on a home that is not as nice.

Once you turn 65, you can defer your property taxes. The state will pay the county for you, and the back taxes become a lien against your property. I haven't bothered, because property taxes are trivial, but if I ever need the money it's an option.

 

[Molalla1]

Ya, I hear you; I do not need it either, just a ***** for others I guess that are not as fortunate.

 

[ovrszd]

Yep . . . My thinking is after one retires there should be no more taxes on your home (most of our taxes on homes go to schools)
who has kids in school after they retire?

12% of my property tax goes to the local school. They will have 3 graduating Seniors this year.....

 

[ovrszd]

Talk to your county about that. Where I live, my property taxes are only $2200/year on a house in a gorgeous setting on 90 acres, shop, and barn. I know people in the Portland area who are paying 4x that much on a home that is not as nice.

Once you turn 65, you can defer your property taxes. The state will pay the county for you, and the back taxes become a lien against your property. I haven't bothered, because property taxes are trivial, but if I ever need the money it's an option.

I pay $7,500/year on house, shop, machine shed and 3 acres. If memory serves me, I pay $1,200 on 150 acres of timber/farmland.

 

[Molalla1]

12% of my property tax goes to the local school. They will have 3 graduating Seniors this year.....

Lucky you are at 12% I believe ours are @ 51% .

 

[ovrszd]

Lucky you are at 12% I believe ours are @ 51% .

OH WOW!!!! We are the 6th highest School Tax Rate in the State of Missouri. Maybe your other tax rates are wayyy less than mine?? I don't remember what our school tax levy rate is. I just know it's about 12% of my total property tax bill.

 

[LouNY]

My ten acres and house has an estimated/assessed full market value value of about $223,000,
with that as a base my property taxes are only $1805 per year as a combat veteran my value has been reduced by $25,000.
How ever our school taxes are a separate bill that comes due in January was $3382.
So about $5187 per year on a $230,000 home.

 

[Molalla1]

OH WOW!!!! We are the 6th highest School Tax Rate in the State of Missouri. Maybe your other tax rates are wayyy less than mine?? I don't remember what our school tax levy rate is. I just know it's about 12% of my total property tax bill.

It's the state ovrsed, pure and simple.