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<blockquote data-quote="Cadence" data-source="post: 8369692" data-attributes="member: 6701124"><p>I'm all for keeping folks in their houses in their senior years - or to stop families from being removed at younger ages due to gentrification, or to stop ancestral land from being lost because of increasing value! </p><p></p><p>Unfortunately, I think, a lot of the plans I hear around here for doing that seem more like they're designed to help folks who just don't want to pay taxes but still want to reap all the profits when they sell. So, I wonder about doing something like giving people a choice on how they want the tax changes to be done - either (a) as usual (regular reappraisals with a % increase limit), or (b) deferred to something like the next time the house is sold to someone outside the family. So, if the senior wants the house to be sold when they die to give their kids a huge amount of money (either they or the kids selling), then they should pay the increased taxes on it as they go. If they don't care if it's passed on, then they don't ever have them increase, and maybe the house goes to the city to be sold to recoup those taxes when they pass away. That avoids the things where if you just have the older generation get a fixed tax rate forever, then the younger generations and those who had to move for some reason pay for all of the public services. (In a place where property taxes do that, anyway).</p></blockquote><p></p>
[QUOTE="Cadence, post: 8369692, member: 6701124"] I'm all for keeping folks in their houses in their senior years - or to stop families from being removed at younger ages due to gentrification, or to stop ancestral land from being lost because of increasing value! Unfortunately, I think, a lot of the plans I hear around here for doing that seem more like they're designed to help folks who just don't want to pay taxes but still want to reap all the profits when they sell. So, I wonder about doing something like giving people a choice on how they want the tax changes to be done - either (a) as usual (regular reappraisals with a % increase limit), or (b) deferred to something like the next time the house is sold to someone outside the family. So, if the senior wants the house to be sold when they die to give their kids a huge amount of money (either they or the kids selling), then they should pay the increased taxes on it as they go. If they don't care if it's passed on, then they don't ever have them increase, and maybe the house goes to the city to be sold to recoup those taxes when they pass away. That avoids the things where if you just have the older generation get a fixed tax rate forever, then the younger generations and those who had to move for some reason pay for all of the public services. (In a place where property taxes do that, anyway). [/QUOTE]
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