Re: Owning a Rental to Supplement Income
We have some people here that are paying from 8,000 to 10,000 a year in property taxes. We would love to move, but because of our tax base of being in the house for 13 years now is cheaper than moving. We would have to pay taxes on a stepped up basis. Most people cannot move because of this. I would love to move closer to my son to help them. They're having their first child and they're over an hour and 15 minutes away and we at this time can't justify paying more for taxes and insurance right now when we are some 8 years away from retirement.
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