this post was submitted on 21 May 2025
34 points (100.0% liked)
United States | News & Politics
2875 readers
1216 users here now
Welcome to [email protected], where you can share and converse about the different things happening all over/about the United States.
If you’re interested in participating, please subscribe.
Rules
Be respectful and civil. No racism/bigotry/hateful speech.
Post anything related to the United States.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Exempting the people who own most of the property from having to pay property tax is a great way to bankrupt schools and fire stations...
Do 70+ year olds own most of the property? I don't know the proportion of property owned by 70 year olds. You could be right.
My personal experience is that people are transitioning to assisted living around that time. Also by keeping the property owned instead of allowing it to be moved to a trust, that has inheritance tax implications, and it also is going to require the property to be sold and that money all spent before medicaid will cover a nursing home.
It's complicated and interacts with a number of other things going on, which is why I'm struggling to understand all the implications.