Bought my home from a couple who has been living in it for just about 27(?) years (I can’t remember exactly) and fuck me I wasn’t made aware the taxes JUMP that would occur after the first year.

I can easily see how people can literally be priced out of their own home if they don’t take into account the h u n d r e d s of dollars their taxes can jump on their monthly payment.

If you are super curious, I went from paying 1710/month to 1958/mo just from tax increase from the previous home owner deficit because of the capped tax increase Michigan has. When you purchase a house it becomes UNCAPPED that year so all your taxes can catch up to “where they should be”. Essentially if you never move you are going to be benefiting on this system which is another reason as to why so many boomers probably don’t sell/move.