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Hi, did anybody ever experience wrong tax calculations by JPMC Payroll/tax team ? Or is there any specific month where they deduct more tax. Huge amount of tax deduction is done for Oct payout. From my CA’s calculation the amount deducted by JPMC team looks wrong. Anybody experienced this?
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Because I look at it that it’s good for the community and having good schools is what makes it a good neighborhood usually. Also I planned to have kids and I have kids now in the same house when I didn’t have kids.
Same reason I pay other taxes - because I have to
I also believe that investing in quality education leads to greater benefits to society. This lessens the sting a bit.
If you’re renting in the same area, you’re still paying those taxes, just indirectly through your rent.
You live in the community. The schools your taxes are going towards educate those in the community. More funding hopefully means better education and better education hopefully means better workforce, less crime, nicer neighbors.
As a resident of a community, I think one of the most important things I can possibly do is support the local education system and ensure a stable, productive society for the next generation.
It’s an investment in our common future.
Living in nice areas naturally comes with higher costs and they won’t always be a direct benefit. It’s just a fact of life to come to terms with.
Mentor
Even the most libertarian of us must agree with the idea that we should have equality of opportunity. Being able to ensure children from all racial, religious, socioeconomic backgrounds have a good education should be a cause we can all get behind. Give them all a good schooling and let natural talent and ambition do the rest as adults.
I'm not sure you know what libertarianism is but like the energy
What’s a school tax? Never heard of it!
Wow
Yall making me feel good here tonight
I typically see this type of question devolve into a bunch of right wing talking points from Ayn Rand fans.
Maybe there is still hope for humanity?
Hate to tell you this Accenture 2, but in substance Ms. Rand is essentially correct.
Taxes are included in total mortgage monthly payments, so if one can afford it and it makes more financial sense then renting, why would relationship status matter? It comes down to everyone’s financial status and what investments they want to make.
Nearly all my single friends bought houses in expensive areas, some of the high earners as early as late 20s.
There are areas with middle/upper middle class people and low residential taxes. In my neighbourhood, most people send their kids to private schools. I live in NJ btw, not Florida. You just need to do your research well.
Mentor
Good schools usually translate to higher home prices.
This! Your home will appreciate faster. When I look at moving w kids I will only consider those top markets and they come with significantly higher price tags.
Thank you very much, your replies are very insightful
While the taxes may be higher right now, you need to consider the future resale value because the home is in a good area. Even if you never have kids, you’re likely going to be able to get that money back with appreciation in value. Maybe you don’t get all of it back, but as another posted noted, your taxes are never going to be zero dollars anyhow.
Property taxes go to fund the community you're living in. Part of what communities do is help educate and take care of the community, even if it's for services that don't benefit you at all - because it isn't about you, it's about the welfare of the community.
Whether you buy or rent, you still pay school taxes. It’s just baked into the rent, not a separate item.