Anonymous #1 5w

Property tax is one of the one things that I KIND OF understand. It goes to local school districts and city services. Escrow is what fucks people over with property tax imo. Houses don’t really “gain value” over time, hedge funds that buy land can jack up the prices to develop (alongside rising costs of recourses). Land is the scarcity. Your house gains value because it’s already built, basically, and it costs you money. Ridiculous

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Anonymous OP 5w

Developers sit on land for YEARS waiting for the value of it to go up, which drives up the costs of homes in the area (or makes it more expensive to build). They create the barrier to entry. Mortgage companies and banks profit from escrow when the money you put in the account doesn’t match property taxes, so they charge you more or your mortgage. Banks charge you for missing payments. Local taxes are the one thing that I get, because it’s for schools, roads, parks, accessibility services, etc.

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Anonymous OP 5w

I wish I never had to know what any of this meant dawg

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