Which means he’s paying $12k in property taxes a year. That does sound quite substantial. Assuming that’s somewhat equivalent to rates in the UK, I pay around £1400.
If the property tax scales with inflation and social security is also adjusted for inflation, but your property tax is getting more expensive relative to your social security income, something’s not right.
spoiler
I understand that housing prices are outpacing general inflation… that’s kinda my point.
So he bought a house for 6k 50 years go and now has to pay 2k in property taxes each year. If he was renting that wouldn’t cover two months.
Does he also complain that the sales tax on candy bar is more than he used to pay for a candy bar when he first bought his house?
The real problem if that’s the scenario is that his social security check is less than $400/month.
Its almost 2000
Which means he’s paying $12k in property taxes a year. That does sound quite substantial. Assuming that’s somewhat equivalent to rates in the UK, I pay around £1400.
“I don’t understand how inflation works and I’m blaming government for it”
If the property tax scales with inflation and social security is also adjusted for inflation, but your property tax is getting more expensive relative to your social security income, something’s not right.
spoiler
I understand that housing prices are outpacing general inflation… that’s kinda my point.
A big part of why housing prices are outpacing general inflation is constrained supply due to long time homeowners paying artificially low taxes.