$540,701,000,000: U.S. Property Taxes Hit Record in 2016

A whole lot of money going to state and local govts in the form of property taxes.


Yep it's a record, and a lot of it is hidden. With there being more and more renters, the only one that knows is the land lord and the rising rents.
The haul the property taxes is up 3.2% in 2016 from 2015.

Americans paid a record $540,701,000,000 in property taxes to state and local governments in fiscal 2016, according to the U.S. Census Bureau.

That was up $16,748,620,000—or about 3.2 percent--from $523,952,380,000 in property taxes (in constant 2016 dollars) that state and local governments collected in fiscal 2015

www.cnsnews.com...

The previous record was set right before the Bush Great Recession in 2009. This number makes me a little nervous, only because it is beyond where we were before the banks crashed.

The prior national record for property taxes was set in fiscal 2009, when they hit $527,850,500,000 in constant 2016 dollars. Fiscal 2016's record total of $540,701,000,000 was up $12,850,000,000—or about 2.4 percent—from that previous record.

a reply to: seasonal

The amount of money the gubment is swimming in up on the Hill would stagger even the most hard corp Roman Patriot

Most of it goes 'missing', and those potholes you drive over every day still aren't fixed.

It doesn't matter what you pay in taxes. What does matter is the purchasing power of your take home pay.

originally posted by: dfnj2015
It doesn't matter what you pay in taxes. What does matter is the purchasing power of your take home pay.

Purchasing power is directly related to scarcity, meaning the less money is taken in taxes and redistributed, the more scarce it is and the more value it has. So taxes play a significant role in how valuable the take home actually is.

originally posted by: dfnj2015
It doesn't matter what you pay in taxes. What does matter is the purchasing power of your take home pay.

I would make the exact argument against $15 an hour minimum wage.

Value is the key.

I pay a little under 4K in property tax on my house alone. We dont talk about property taxes around here. Makes me violently puke... considering how the town is ran and by whom.

My property tax bill will be about $12k this year. My house is pretty modest by big city standards. The area I live has excellenf k - 12 schools. Nice parks. Police services.

I feel like i get a lot for the money but the taxes are getting burdensome. They are trying to raise them again for our elementary schools. Of course, they try to make if seem like our kids will be retarded if we donf fo along with the increase. People are stretched thin. We vote on it soon. Ill be voting no.