H.A.T….costing more than 30% of income

(LFC Comments: Thanks to Lobbyist Jim for this article.  It reinforces what we have been saying for more than two years.  The use of property taxes to fund our public schools and the ever growing government at all levels are pricing seniors and those on fixed incomes out of their homes.  It appears that even other age groups are feeling the pain of housing costs.)

https://www.foxnews.com/real-estate/growing-number-of-americans-spend-income-rent

HAT 2

Housing Affordability Threshold:

For Homeowners = mortgage + utilities + property taxes must be less than 30% of the household family income.

For Renters = monthly rent + utilities  must be less than 30% of the household family income.

In Northeast Ohio, public school funding receives ~70% of property taxes.

We have been saying for years – the current funding of Ohio public schools is not sustainable!  By the way, it is also unconstitutionally, but no one cares to do anything about it.



Categories: Lake, Real Estate Taxes, Uncategorized

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