As a renter, over the last few years I’ve been receiving $75 tax rebates, usually by surprise, months after filing taxes. On the governor’s budget plan, the rebate for renters will increase up to $350. Low income renters will see this biggest increase, while those earning between $50,001 and $100,000 like myself will get an increase of only $5.
For renters, an estimated 18% of the total rent paid over the year goes towards property taxes. For me, at $900 a month for my one bedroom apartment, about $1,944 goes towards property tax according to this estimate. The $80 rebate is about 4% of that property tax “bill.”
Homeowners will get much larger rebates, between 10% and 20% of their entire property tax bill. [Home News Tribune: Rebate Increases Set]
If I were a trader, I might look at yesterday’s drop as a buying opportunity for today, but with a long term view, it won’t change anything that I’m doing as far as investing this year.
Former Federal Reserve chairman Alan Greenspan thinks we’re heading for a recession this year. This is not long after the Dow was setting record highs.
With the markets tanking a bit yesterday, have your investing plans changed? Was this the sign of a correcting trend or just a short-term blip?
Each day this week, I’m selecting a random commenter to win a copy of You Call the Shots by Cameron Johnson (reviewed here). Yesterday’s winner is Clever Dude! He commented on the post about the guy living out of his car.
I only have three copies of the book left to give away to lucky readers. You qualify to win with each comment you leave on Consumerism Commentary. You don’t have to be a blogger to win, you just have to write in with a comment. As long as you include your email address so I can contact you, you will qualify. In fact, if you leave more than one comment, you’ll have that many chances to win.
This year I’m looking back by linking to some of the more interesting posts from this week in previous years. Here are some from February 23-28, 2006:
From February 23-28, 2005:
* Feb. 27: What My Future May Hold (8 comments)