I waited in line today to pay my annual property taxes (I don’t trust these people, so I wanted a receipt). Texas has no state income tax, so localities make up for it with property taxes. My home is a nice place, but no mansion; it’s 4 bedrooms and 3450 square feet, appraised at somewhere in the low $400,000s. (Wanna buy? I’m selling it in a couple months to move back to Colorado.)
The tax rate is a little less than 3%, typical for most of the municipalities around here. We received some sort of homestead exemption, bringing down their take to about $9700. Ouch.
Standing in line, I noted an Hispanic woman in front of me pulling out cold cash. She flashed six $100 bills and some odds & ends. The clerk mentioned something about lot #46, so I surmised trailer park. Doing the math, that’s probably about right; she’s sitting on a perhaps $25,000 trailer lot somewhere. Taxes, of course, still due. Perhaps she’s wise to park in that trailer no matter what her income rises to. I’m now tempted to buy a double-wide myself.
Behind me, an elderly woman mentioned something about being on a fixed income. Her house continues to appraise in value. Lucky her–her tax bill, too, continues to rise. I had heard of elderly people being forced out of their homes in the past, homes in which they had lived most of their lives and had paid off. Apparently our heroes, the Politicians, have finally granted significant exemptions for seniors.
Another big obscenity I noted was the intolerance for late fees. Here, government is far worse than the supposedly greedy credit card companies. My payment is due January 31. If it’s one day late or 28 days late, I pay a whopping $700 late fee, over 7%. Each subsequent month tacks on an additional $400 or so of late fees. Maybe my math is wrong, but that’s close to 50% per year. I doubt even Guido of the syndicate charges so much juice on a loan. Nah, Guido just snaps your leg; much less painful.
