Hi, ICan'tDance. That is, to a certain degree true. However, I do not accept Section 8 .. and most of my properties are a little above what Section 8 would pay .. although, not by much .. In this suburb .. for a four bedroom, 2.5 bath, 2200 square foot house, with the amenities such as central air, attached garages, outdoor lighting, etc. .. Section 8 would pay $1640.00 per month. Two of my houses, that would hit that criteria .. and have updates that are six years old, or less .. I charge only $1500.00 .. The tenants, in those two houses, have been with me .. since I remodeled them and put them out to rent. Loyalty works both ways.
However, all of my tenants know that .. with a property tax increase .. there, eventually, will be a rent increase .. and, if they're to be believed .. the vote against the levies.
Most homes in the suburbs in which I own properties, are owner occupied . VAST majority .. as, on one street, Brandywine, I own two houses. The corner lot was the first, in that neighborhood, that had ever been a rental. The other one I own ..was the second. On that street . they used to give me some pretty nasty looks.
So, I don't know if it is the renters that keep the levies a comin' and comin' .. or just the stupidity of the homeowners.
The Brandywine properties .. just nine or ten years ago .. had a millage rate of 1.6% .. This year, that we'll be writing the checks for next year .. it's now over 5%.
So, a hundred fifty thousand dollar house .. that's over $7500.00 per year. Some properties, the assessment is over two hundred thousand ... If interest rates would ever go back to normal .. I'd be out of this crap in a heartbeat.