The Motley Fool Discussion Boards
Retirement Discussions / Retire Early CampFIRE
|Subject: Re: Late Start but still want to retire early!||Date: 3/24/2004 11:06 AM|
|Author: intercst||Number: 158924 of 721804|
Also, I don't know where you live, but my philosophy was to not consider myself out of debt until I had a paid-off house in a safe neighborhood where I am not assessed property tax. Some areas have property tax on all homes, so you can't do anything about that, and other areas have such high prices on homes that your best bet might be to accept that, when you retire, you will have to sell the home, get your equity out of it, and re-locate to someplace cheaper.>>
Is this in the US? If I'm reading your post right, you don't pay any property tax! I did not know this was possible in America.
I think pekinrobin lives in Louisiana. Real estate there is cheap and they have a relatively large homestead exemption. I'm pretty sure that you'd pay little or no taxes on a $50,000 home.
Of course, the gov't has to get money from somewhere. Louisiana has an income tax and in New Orleans the sales tax is more than 10% on some items.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|