Christine, I can't move on and discuss the chilian social security model until I fully resolve this GIFT you think homeowners are getting.
I really think your confused about how the tax system works. You aren't given anything. Go ask your landlord what h/sh pays in real estate taxes. Every state is different, but if the average home value is 300,000 I would bet the average real estate tax is about 4,000-5,000 a year. This is money you pay as a homeowner. Not to mention the taxes on water, sewer, garbage, electricity, gas and many other things. Now lets say your interest deduction is about 18,000 per year. This is deducted from your income and puts you in a lower tax bracket. But the savings would rarely exceed 4,000 dollars. It might be as high as 3,000 dollars but in the end you haven't been given anything! This scenerio of course will differ by what your starting tax bracket is. But I can guarantee you for me, I'm a major net loser in the end.
The second point is. You as a renter don't pay the Real Estate Taxes on your rent. Your rent is tied to the supply and demand of other similiar property in the same catagory. If their is an oversupply of rental units at a certain cost. The landlord eats the difference or h/sh doesn't rent the property. Consequently if their is a shortage of rental units the landlord can charge more. That's part of the risk, h/she takes when buying the property. You can win, or you can lose.
I'm sorry Christine, but it sounds like your just bitter because your not a home owner. Don't blame me. Blame your city council who are probably restricting the building of multilevel dwellings or something.
Michael |
