Real estate?
Better be considering that corresponding property tax burden. That's about to become the next big thing.
Bet on it.
200% agree...
We bought raw land 25 years back that we couldn't really afford but made the necessary changes in our lifestyle to make it work.
Received our 'new & improved' tax valuation for our place in Virginia last month for 2023.
Simultaneously sold 1/5 of the acreage at 600% profit after 25 years of owning, hunting and playing on it.
That will keep the tax bill at 2022 levels.
The developer will be building at or near $1M homes on what he purchased from us and the adjoining property he already owned[some of which we sold him 15 years back @ 400% profit].
So now we are sitting on 60 acres yet that will adjoin those homes/lots.
