property taxes and building a lifeboat

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nex_s's picture
nex_s
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Joined: Jul 30 2010
Posts: 17
property taxes and building a lifeboat

 

  Hello Everyone,

  After listening to the speech by Nichole Foss (Stoneleigh) http://sheffield.indymedia.org.uk/2010/06/453356.html which I thought was quite brilliant and laid things out about the coming collapse, something came to mind.  I'm sure this has already been covered here.  When things go to hell, how will you pay your property taxes?  Assuming you can buy your house free and clear and start making the necssary sustainability preparations it's my understanding that the government, due to lack of funds elsewhere, could very well jack your land taxes up thus forcing you to vacate or otherwise sell your property.  I'd like some feedback on this question.

Thanks in advance.

 

Ken C's picture
Ken C
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Joined: Feb 13 2009
Posts: 753
Re: property taxes and building a lifeboat

Well I don't know about UK but here property taxes are levied by the county not state or federal. In that regard the tax rate will be controlled by local politicians that will be more accountable.

Also, in Calif. we have Prop. 13 which limits the amount of increase of property (as well as other taxes) unless 2/3 of the legislators approve the increase. The pols are always trying to change this. This year we have yet another ballot issue (Prop 25) to try to repeal/change Prop 13 so that taxes can  more easily be raised  Defininte NO vote.

TNdancer's picture
TNdancer
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Joined: Aug 20 2008
Posts: 127
Re: property taxes and building a lifeboat

I had the very same thoughts about 15 years ago.

As Ken points out, property taxes here are local.  Every person that sits on the local commission lives within a 20 minute drive of my house, and has to face the community each and every day.....as well as pay those same taxes themselves. THAT is a powerful incentive to keep taxes reasonable, especially in smaller, rurual areas  One of the HUGE problems with govt today is once it gets away from local politics, it's almost impossible for individuals to have any effect on what they do....which is a powerful argument for smaller, decentralized govt.

Also, there IS a limit as to how much property taxes can be raised ( though if you're paying a huge bill now, it might not seem that way :D ). As a matter of practicallity, the county govt can't own all the property.....and at some point in time, the pitchforks come out to make that 'point' clear....ahahahaaaa...

That said, the best plan is to choose to live in an area that traditionally doesn't over tax.  Here, for example, I own what would sell today for close to a million bucks worth of property ( decent house + 100ac ), but my taxes only run about 1500/yr.  I could live in States, especially up thru the northeast, that I would pay 10-20 times that amount yearly, and quite frankly, the quality of life wouldn't be one ioata better for that extra amount.

My concern. looking back on the last depression, was the number of folks driven off their land for lack of a relatively small amount of money to pay the property taxes.  I never wanted to be in that boat, so my search lead me to look a precious metals as a hedge against that situation.  I bought a bunch of $1,000 face bags of 90% US silver coin with the hope that the price of silver would keep pace with inflation, and thus, I would always have that nest egg in reserve for my taxes.  Bags were selling for the low 3,000 FRN range then....now they bring about 14,000.  They have WELL outpaced the minor increases in my property taxes along the way.....heck, I may end up with a bass boat yet.....ahahahaaaa

 

 

nex_s's picture
nex_s
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Joined: Jul 30 2010
Posts: 17
Re: property taxes and building a lifeboat

 

 I'm from the province of Prince Edward Island in Eastern Canada and live in a small city of 50,000.  Property taxes are set by the province which makes the relationship between taxor and taxee closer.  Having said that we live in a 1000 square foot bungalow on less than a quarter acre lot (.20 acre) and pay $1800/year for property tax.

 To own your own property free and clear with some land to grow food is the best case scenario, but you run the risk of being taxed to death.  If you live in an apartment, sustainability is more difficult since you either have to grow food on your balcony or on your landlords land or in a communal garden which of course is susceptible to thieves.

If you continue to have a job in any event then this whole issue becomes less problematic but if you do all your due diligence, prepare to be self sustaining, pay of your mortgage and other debts but end up losing your job, you still might lose everything due to your property tax bill.

 

11rhymesandreasons's picture
11rhymesandreasons
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Joined: Sep 11 2010
Posts: 3
Re: property taxes and building a lifeboat

The county might be inclined to overtax commericial properties then residential.  Which really hurts because around here (Boise, Idaho), there are many vacant commercial properties.  I sold mine at an auction for 1/3 of it's tax assessed value. 

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