Thanks for the feedback! Yes, land is also a great investment. I have a few more months until my tenant's lease is up, then I hope to sell the house and buy some raw land to pay for free and clear. One thing that frustrates me, however is the property tax that is charged year after year on your own land. You own it, but the government still taxes you on it. So do you still own it? If the government keeps taxing you and you fail to pay the taxes, they can seize it from you. That's always kind of bothered me.
You are viewing a single comment's thread from:
That is crazy; how can you tax someone on something they paid off free and clear, and then threaten to take said property away from them? Government is nothing but a bunch of greedy tax-crazy extortionists.
Really boggles the mind, doesn't it?! I also hate that I buy equipment for my business, pay sales tax on it...and THEN have to pay PROPERTY tax on the depreciated value EVERY YEAR AFTER THAT! It's downright theft!
It sure is! They know what they're doing; that's like here in NC, I can buy a car and have to pay car taxes every year, even when I've paid it off! And it still doesn't matter how old it is; they're like Cuba Gooding Jr in Jerry Maguire: "Show me the money!"
The tax structure is in need of some serious reform.