Is your house or property making a profit? Why is it taxed? Non profits aren't taxed.

Check out all the property that is exempt from property tax. Is your house a for profit corporation?

Ask the tax assesor to please show you how much profit your hs made last year.

Did I forget to put doom in the title?

Think about it. aren't the tax exempt properties 501c-3's. They are not for profit. Is your house for profit? Where is the profit?

Profit=income. Income is taxed. No profit=no income=no tax.

Thanks for the 5 stars.

Any comments or questions, or is the tax fair and you really think it funds the schools. Ha Ha

This should go viral. The questions that could be asked are endless.

Many types of Not-For-Profit Organizations are eligible for a full or partial property tax reduction. The property must be used for acceptable exemption purposes, such as educational, medical, or religious, etc. reasons (see list below).

[link to www.nyc.gov]

Nursing homes are one of the most common non profit organizations. Next comes museums, cemeteries, churches, schools, and hospitals. Buildings such as libraries and dance studios are a couple more examples of non profit organizations that are exempt from property tax.

[link to www.brighthub.com]

it would be because the banks put your home loan in the stock market, like in 2008 when all the home loans in the stock market folded with the credit default swap shenanigans.

So, who's making the profit? Are they gonna pay the tax?

That is so that if you are totally self sufficient, off the grid, and not selling, that they can take your property away from you.

In essence, it is not really your property.

You need to move to a different country where they do not have an unfair practice like that.

In Mexico there is generally no property tax, so people can live independently without the threat of having everything pulled out from under them for non-involvement.

But technically according to the constitution from the last revolution, you may loose rights to land that you are not using and working personally. There are loop-holes in that now of course, but that is the spirit of the law here.

That is the type of common sense law that a nation will need to return to if it is hit by devastating economic collapse... one can only hope.

Well, private individuals can't own property, so the tax is really a duty to your liege lord; the State. They call it a tax, but really it's rent.

Last Edited by Shingen on 05/03/2012 10:44 AM

This is exactly how the Duggars get away with not paying property tax. They claim their house as a church.

Rural property will soon become very valuable as the rioting and crime get out of control in the cities and suburbs.

The question is : How, if my house has lost value, where is the profit? Please show me the money my house made last year.

Neither my wife nor I make any "income". Where is the money?

100% disabled veteran. 100% exempt from property taxes.

you assume you need to turn a profit to be taxed and that isnt true.

your agruement is flawed

If you don't turn a profit, you are not taxed. Where is the flaw? Please show me the profit.

the flaw is that there are MANY things taxed that dont turn a profit....see sales tax

It does fund the schools where I am. Every year there is detailed accounting of how much came in for school tax and where it flowed into the school budget.

Separately we are charged property tax for the town, to pay for town government and services. Those are well done in my town; they watch pennies like crazy. The only problem is that our mayor is an architect and keeps trying to build stuff that we don't want, to spend money that goes to his friends and his industry. We really need to replace him.

Our problem is state mandates that force us to pay for things like medicaid out of the county budget. Some of the property tax goes for that. Also on the schools side, the unionized teachers are very tough to deal with. But the money really does stay local for the most part.

That's because we're a Republican area and we don't have a lot of tolerance for "agenda" bs, at least not most of us.

the flaw is you trying to assert that tax is somehow acceptable

Local governments such as cities and counties derive revenue from property tax. Property tax revenue is generally used for government administration and expenses for first responders such as law enforcement officers, firefighters and paramedics. It is also used to fund local courts. Property tax also helps pay for services including community programs, parks, civic centers, libraries and schools. Quite often, school districts receive a large portion of property taxes.

[link to www.wisegeek.com]

land cannot be owned.

that is all.

I don't care who owns it. I just want them to tell me how I made a profit.

Isn't the important question why do you pay taxes at all?

I read the entire tax code of my state and found that the definition of a "taxpayer" (which is what the property tax refers to you as) has 6 separate definitions within the tax code. First off, 6 different definitions is evidence of fraud in itself, but all of those definitions referred to businesses. None of them referred to a non business entity. I bet every state is the same, most state laws are fairly uniform.

Also, the constitution of the United States says no state shall make anything a payment of debt other than gold and silver coin. I know how the supposedly get around this, but hearing it explained in court would be some great entertainment.