Comment on Bank Workers, Rejoice!
Pacattack57@lemmy.world 1 week agoYou are not accounting for property tax which can significantly affect the payment. If property values rise, which they always do it will increase the payment. Making the saving from this moronic plan meaningless.
Trainguyrom@reddthat.com 1 week ago
Historically in most cities property taxes have nowhere near kept up with inflation. The town I live in right now just did its first property tax increase in over a decade, which increased my property taxes by about $100/year for my extremely average for the town home. My property taxes are about $2100/year and were about $2000/year when I first moved in almost 5 years ago. Comparing to family located in other much larger cities trends are similar. California famously capped property taxes for existing home owners. Property taxes are generally a very small part of the equation for most of the country