INFLATED TAXES - PROPERTY - HOME - AUTO

INFLATED TAXES - PROPERTY - HOME - AUTO

The trend of inflated home prices has become a great opportunity for government bodies to inflate their Tax earnings in every aspect of life of citizens. This will be in addition of the impact of Tariff changes which will inflate the prices of food and commodities. The combined effect will deplete the finances for the middle and lower class families while their income has remained stagnant for several years.

- Property Tax:

This tax should be based on what you paid for the house, its original value,  and not the artificial hike in price based on inflated market value. The re-evaluation for taxes can happen when the property is sold and its new actual value is realized. Until then any change in value is a unrealized gain and should not be taxed.

NC Wake County said it would fund the public schools with its tax hikes. This while they have not yet been able to come clean with the Education Lottery funds which were supposed to enhance school funding. Instead the new funding just replaced the original funding that the school received. Thus the school system netted ZERO additional funds.

- Home Insurance:

Home Insurance companies have taken up the opportunity of artificial market values to hike up their premiums. One way to fight this is to increase your deductible so that the premium drops to make it bearable.

- Automobile Registration Tax:

Automobiles in USA are a necessity to live, not a luxury. Certain states like NY, NJ, DE, MD  do not tax automobiles as property. But other states like VA, NC, CT, RI have been rogue to tax automobiles as property. This has a poor impact on those who are struggling to make ends meet. The cost of automobile insurance has also gone up sharply over time even if you have not had any incidents.

Toll Roads:

Toll road is yet another Tax. It is a business approach of providing public highways for which a Road Tax is already provided. Worse, Tool road management foster corruption, political patronage, and discourage needed improvements on the rest of the highway system. Toll road advocates argue that those who use the system the most will pay the most. Citizens and other highway users have no channel to influence toll road management and pricing decisions. 

- Solomon Borgawker

borgawker@gmail.com