Yeah my buddy is selling his house in WA because his fucking property tax is now at $14k per year. He bought the house in 2000 for $450k and now it's "worth" $1.3 million.
But he's put in like $300k in upgrades/maintenance but also paid $300k+ in property taxes.
So his "profit" when selling will be taxed at capital gains rates, but is he getting any of those upgrades / property tax back? No. He's taking a net loss on the property, which is fucking ridiculous.
[ + ] iSnark
[ - ] iSnark 1 point 1 weekDec 2, 2025 23:28:25 ago (+1/-0)
[ + ] observation1
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[ + ] Eric_Fartwell
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[ + ] jfroybees
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[ + ] NoRefunds
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But he's put in like $300k in upgrades/maintenance but also paid $300k+ in property taxes.
So his "profit" when selling will be taxed at capital gains rates, but is he getting any of those upgrades / property tax back? No. He's taking a net loss on the property, which is fucking ridiculous.
[ + ] boekanier
[ - ] boekanier 0 points 1 weekDec 3, 2025 01:09:06 ago (+0/-0)