Why You Can’t Beat Idaho Property Taxes in Any Other State
It is easy this time of year to complain about taxes. While a portion is taken out of every paycheck, it doesn’t sink in how much taxes are paid until income tax season arrives. After the numbers are crunched and wins and losses tallied, people see the results and do not usually appreciate the totals.
Real estate property taxes can be brutal. It is an insult to payment injury. After mortgage and insurance costs, the state will take its piece of your dwindling funds. Maybe it can help the homeowner to feel a bit better knowing that real estate taxes are collected to pay for schools and vital infrastructure, right?
We All Hate Taxes, But They Could be Worse Than What Idaho Has
Renters may have the misconception that since they pay rent, there are no property taxes to concern themselves with. No such luck. When rent agreements come up for signing and there is an increase, part of that is property tax increases. The landlord is not going to absorb those taxes. They get paid, to be sure.
What Are the Real Estate Taxes in Each State?
If you love living in Idaho, you may appreciate that the Gem State ties for 10th in real estate property tax rates. Sure, they stink, but evidently they don’t stink as bad as other states. Unsurprisingly, red states impose fewer property taxes than blue states. Living in a Republican-dominated state has its advantages.
Vehicles Have an Annual Property Tax in Some States
Another reason to feel good about living in Idaho is vehicle property taxes. More to the point, Idaho’s lack of vehicle property taxes. Half of the U.S. does not impose property taxes on vehicles. The other half can range from .1% to 3.97% per year. So even if you own your car in Virginia, you’ll have to pay almost 4% of its estimated value every year.
Many people understand taxes are necessary to keep our nation functioning. It isn’t the notion of paying taxes that hurts. It is the idea that no matter what the taxes are earmarked for, once they are collected, they can be moved to whatever hair-brained scheme lawmakers choose to reappropriate the funds.
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Why doesn't the IRS tax cows? The farmer already milked them dry.