Ugh

[WBxx]

20 hours ago, Dubious said:

25%

But we don't have tax on heritage or winnings, so if you win 10 million in the lottery, you get 10 million. 

Assume you have an income tax, what is/are the rate(s)?

[Little Sherri]

I find US property tax rates generally quite high, by comparison - I live in Canada. We pay higher income taxes and higher sales taxes and higher prices for just about everything else, but, our property taxes, as a percentage of the value of the property, aren't bad. It varies by city, but I've lived in several cities, and they were all round the same range - a $1 million house might be about $5000 a year. I have a buddy with a $900 K house in Florida and he pays $1000 A MONTH in property taxes. Now, granted, his house would be worth $2 million + if you put it where I live (Toronto area), but, he also pays an HOA fee for groundskeeping and garbage collection, whereas municipal services like garbage and recycling and snow removal are covered by my property taxes, so to me, his seem high. And I have a friend who lives in New York State whose house is probably worth about $350 K, and he pays $6 grand a year. 

We do get to keep all the money if we win the lottery, though. Fingers crossed... 

[Dubious]

This thread answered the question, why is there so many homeless in USA. 

Even the people with million dollar homes are selling their home, cause they cant afford to pay the tax. 

[Sumi]

Definitely is something you need to keep in mind when going to the polls to vote!

[foreverdl]

On 10/15/2023 at 9:34 PM, Firefly 35 said:

I've never heard of a tax on tax refunds.

OH Yeah we also have to claim our tax refund on state and federal so they can tax us on it!!