Sure, go for it if it's true. Never heard of that group and don't know if their facts are correct.Lets start with the IRS and the government itself:
https://outreach.senate.gov/iqextranet/view_newsletter.aspx?id=112957&c=JErnst
More than 5,800 IRS and contractor employees owe nearly $50 million in overdue taxes.
Of the 3,323 IRS employees with unpaid taxes, 2,044 owing more than $12 million were not on a payment plan.
Of the 2,484 IRS contractor employees with unpaid taxes, 1,729 owing more than $17 million were not on a payment plan.
Despite the IRS having the authority to fire employees who willfully fail to pay taxes, just 20 of the agency’s tax cheats were terminated.
Over 500 former IRS employees with tax compliance issues or conduct and performance problems, including criminal misconduct, sexual misconduct, inability to perform duties, fighting and assault, and unauthorized access to tax return information, have been rehired by the agency and its contractors.
Government-wide, 149,000 federal employees owe $1.5 billion in unpaid taxes. Tens of thousands are repeat cheats, failing to file tax returns year after year and that number is steadily increasing.
Big time!!!!! easily 2-3x what I was paying ~2010 (Same county) and at the time it was 4 of us to include 2 teenagers and I had a house/yard twice the size.....Utilities are no small expense either....
That is true. My condo is paid off but also my living expenses are super cheap. $1700 a year for property tax, $365 a month maintenance fee (which includes my water and one underground space for my Vette), $100 a month for electricity and that’s basically it.When you own them free and clear the taxes and insurance don't stress you too much.
Some of the issue with taxes is our fellow voters. My fellow voters in my town once again voted to expand funding for our local library. The library is vacant a majority of the time, yet us taxpayers are paying over $200,000/yr to keep a library going in a village of 1,000 people. This is but one example of the disconnect between people complaining about costs but then voting for higher taxes.
No homeless people here.Homeless like to hangout in libraries during the daytime.
Because most people are on a 30 year fixed mortgage, so the P+I is fixed but the Tax and insurance are not.I find itquestionableinteresting that even with the rapid growth in home prices that took place over the last several years, that taxes and insurance would be a steadily growing portion of the payment.
I know real estate is local but I looked back at the records a previous home.
- Taxes was 140% in 2024 of what is was in 2011 (probably more like 130% because of the loss of an exemption moving to a refund)
- Insurance was maybe 150% - 175% in 2024 what is was in 2011 (too lazy to look for the actual number)
- Real home value is easily 300% of what it was in 2011, probably at least 200% of what it was ~2015/2016.
Curious what the new mortgage for purchase versus existing mortgage breakdown in the graph is. Fairly certain if I considered a new mortgage with my own numbers as if I was buying the house, my taxes and insurance would be an underweight versus my mortgage payment, taxes, and insurance circa original purchase in 2011 (because naturally my taxes and insurance increased and my payment on my 30 year fixed rate mortgage stayed the same, and my purchase price would be 3x what I paid 13 years ago).
Seems like there is more going on with the data than meets the eye.
I agree on all counts. I actually got a chuckle seeing the chart because the home and mortgage I referenced (circa 2011 purchase) by 2024 my taxes and and insurance were ~60% of my payment. Went up for sure as a percentage but my principal payment has only been the same/went down when I refinanced.Because most people are on a 30 year fixed mortgage, so the P+I is fixed but the Tax and insurance are not.
In some places Insurance is rising much faster than others. The cost to replace a house is going up, so obviously insurance needs to go up.
My taxes are capped - roughly 3% a year. The next person to own this house will pay double what I pay. We also give 65+ an tax break. I personally think that is wrong, but anyone over 65 of course does not
It varies a lot by location. In general its getting much more costly to own a house. The fact that rents are not keeping pace with ownership tells me the market is out of adjustment.
That’s about even with many US metro areas. The quoted UK average house cost (sure it’s not median?) is actually lower than the $416,000 in the US.It's a long time since I visited the US, perhaps 15 years ago when everything there seemed cheaper than the UK. Since then from what I'm reading here the cost of living in the US has gotten very much more expense.
To give you an idea of UK housing costs I'll show what I pay.
Our single story house is well above average in size at 2000 ft2 and in an expensive area. Value approx $1.05 million. The average house price in England is $386,000
Property tax $4350 per year. The average small house would pay half that and the biggest houses would pay a max. of $5300
Insurance $150 per year which covers building and contents. That's very much lower than average for the size of our house because of our age and because we are in a very safe area.