Welcome back to On The Point, I’m Greg C. Truax.
Here’s a simple question: why are homeowners taxed on money they never made?
As your home’s value rises on paper, you don’t get a check—instead, you are annually handed a higher property tax bill. You didn’t sell. You didn’t profit. But local governments, whose budgets always go up, tax you like you did. That’s not how income taxes work. It’s not how capital gains work. Yet it’s exactly how property taxes work.
Ever-rising property taxes with no rise in income—talk about an affordability issue. At some point, you have to ask the obvious: do you really own your home—or are you just renting it from the government?
Something about that isn’t right.
From the NewsTalk 1040 studios, I’m Greg C. Truax.
Greg C. Truax is president of GCTMediaGroup, a film production studio, online magazine publisher, radio commentator, and creator of written and broadcast opinion commentary.