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Lets pick on the old retired homeowners

January 13, 2008

Lets pick on the old retired homeowners.

    The owner occupied homes were paying higher taxes every year through uncontroled spending by the schools and other goverments. They had a credit card with NO LIMITS to there imagination.  They taxed the homeowners property at inflated prices to get more taxes for there pet projects. We now see housing prices dropping,appraisers and mortgages companies being sued for inflated home prices.  Home prices are expeted to fall 30-50% from their inflated prices.
    Now the goverment agencies are crying they want have enough money.  The Legislators did there job two years ago when they changed funding,raised sales tax, took inflated funding off of homeowners and put a cap on funding.  They did this because homeowners were given relief in 1998 with no caps and the goverments went to uncontroled increases . Taxes increased 400% in seven years.  The Legislators had to address the same problem ,so they fixed it right this time .
    The Municipal Association,School board Association, other Associations and goverment agencies want to put the taxes back on the homeowners and take the caps off so the can go back to uncontroled spending.  School Districts gets 7.5% of all their funds from owner occupied homes.  All property taxes collected  make up 37.5% of the Districts total funds. The other 62.5% comes from State, Federal and other sources.  All these figures come from the South Carolina Dept. of Education,s website.
    The goverment agencies are crying about the caps.  The problem is that they are not getting the real CPI figures from the Federal Goverment .  They are getting a low rate as the feds do not count energy,food and most of housing.   The CPI is 2.5 for 2007,but the real figure is around 15 %. The caps are to protect the primary homes of the South Carolina citizens.   The business community,the vacation homeowners and rental property owners  have the ability to pay.   The older retired people on fixed incomes do not have the ability to pay ever increasing taxes on their homes.  They have to make a choice , eat,buy medicine or maybe loose their homes because they can’t give the greedy goverment agencies more and more money for there pet projects.
    It is time for the different agencies to quit spending and start cutting back.  The economy is starting to fall and they will have to lower their spending habits like the rest of the people.
David Whetsell

One Comment leave one →
  1. January 14, 2008 3:37 AM

    There is a similar problem in the UK. The Labour government has increased public spending considerably while it has been in power (11 years) and now that the economy is slowing, this extra spending is a weight on the recovery.

    You are right – the government and local councils need to cut back just like the rest of us. It sounds harsh, but I think a lot of public sector workers in the UK must be made redundant. If enough people were shed, it would save enough money to cut taxes.

    Unfortunately, the government does not live in the real world where to get money, you must earn it. So it needs some courageous people to make unpopular decisions and do the right thing for the people and economy.

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