[quote=lubenthrust]
I’m speculating that it’s because new buyers feel as though they are subsidizing the tax load of existing homeowners. It may also be a primal instinct — I remember reading not too long ago about how certain animals, including dogs, are able to comprehend the concept of fairness. When you purchase a house and see that you’re paying 5x as much as the little old lady you bought it from despite there being no tangible change to the property, it stimulates this instinct.[/quote]
Right, and those original homeowners were paid 1/5..or less than the current buyers are in annual salary. Gas was also a dime a gallon once. Things change.
My next door neighbor is the original owner of his house. He paid about $15k for it brand new in 1954. Should he be paying north of $4k/yr in property tax (what I pay), more than a 1/4 of his purchase price, just because some new home buyer thinks this would be more fair? I certainly don’t think that THAT is fair. He’s paid PLENTY of taxes over the last 80+ years of his life. I don’t begrudge him a thing. And I know for a fact that he can’t afford that much in property tax nor can thousands or millions of people in his position.
