Thursday, May 13, 2010

Loyal Overtaxed Property Owners Screwed Again

As a long-time overtaxed property owner, I take issue with Senate Bill 692.

What this bill does, probably fashioned after the Obama adminstration tax credit, is to give homebuyers a $15,000 tax credit or 5% of the purchase price, whichever is lower.  The federal government offered an $8,000 tax credit for homebuyers, which has since expired.   This bill is almost double that amount.

Equally disturbing is that more tax credits are being set aside for new construction purchases.  That helps developers more than the average homeowner who can no longer afford their homes.

Instead of looking at ways to help over-burdened, long time paying property taxpayers, these kooks are looking to help people who may never have owned a home in their entire lives, never paid a property tax bill and leaves the rest of us to foot the bill for their reckless spending while giving a pass to those purchasing a new home or downsizing or upsizing.   

It makes no sense.

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