Drunk Real Estate 104. What If We Eliminated Property Taxes?
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Jul 24, 2025 What if property taxes disappeared? The hosts delve into this provocative idea, exploring its potential effects on housing affordability and public funding. They debate the financial strains faced by homeowners and discuss creative alternatives to traditional tax structures. Insights into the impact on educational funding highlight the disparities driven by local property taxes. With a blend of humor and sharp observations, they tackle the complexities of taxation, community services, and the broader economic landscape.
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Elderly Woman's Reverse Mortgage Burden
- Mauricio shared a story of an elderly woman who bought a home decades ago and had to use a reverse mortgage to pay property taxes.
- She accumulated significant debt just to maintain and live in her own home, illustrating property tax burdens on fixed incomes.
Property Taxes Fund Local Budgets
- Kyle explains property taxes fund essential yearly municipal and school budgets, making them necessary for local services.
- He highlights that these budgets can't rely on fluctuating sales from property transactions alone.
Upfront Taxes Deter Home Sales
- J Scott warns that a large upfront home purchase tax could discourage home sales and disrupt market efficiency.
- He compares it to low interest rates and capital gains taxes that reduce transaction volume and affect supply and demand.