For example, Geraldine Tyler, a 94-year-old elderly woman living alone in Minnesota, lost her condo over unpaid property taxes. The government seized her property and sold it at auction.
It’s not uncommon for people in North America and Europe to pay tens of thousands of dollars in property tax every year. just to live in their own homes that they think they own.
And the burden will almost certainly continue to increase. This is because most governments continually raise property tax rates, especially governments in bad fiscal health, which is to say all of them.
Whenever politicians always want more money, they can simply increase property taxes and hope nobody notices. It’s like changing the dial on a thermostat.
That’s why property taxes have nowhere to go but up.
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