By Eric Kim

When we think of owning a home, we imagine stability, security, and the culmination of the so-called “American Dream.” But beneath the surface of this dream lies an insidious trap: property taxes. To be blunt, home property ownership taxes are nothing short of a scam, designed to keep you perpetually indebted to the state, rendering true ownership an illusion.

Let’s start with the premise. You work hard, save diligently, and finally scrape together enough to buy a house. You’d think that once the bank’s mortgage is paid off, the home would truly be yours, right? Wrong. Property taxes mean you’re essentially renting your home from the government for life. Fail to pay these taxes, and the state has the authority to seize what you thought was your property. This isn’t ownership—this is glorified feudalism. In medieval times, serfs paid taxes to the landowner; today, homeowners pay taxes to the government. Different players, same game.

Now, let’s examine the justification for property taxes. Proponents argue that these taxes fund essential services like schools, roads, and emergency services. While that sounds noble, the reality is far murkier. First, why should funding for public services hinge on the value of your home? Tying taxes to property values disproportionately punishes individuals in areas where housing costs are artificially inflated—often through no fault of their own. Furthermore, these services benefit everyone, not just property owners. Shouldn’t renters and corporations shoulder their fair share instead of placing the burden squarely on homeowners?

The system is rife with inequities. Take reassessments, for example. As property values rise, so do your taxes. Did you choose to live in a neighborhood that suddenly became trendy? Did you ask for real estate developers to flood your area with overpriced condos? Of course not. Yet you’re punished financially for market forces entirely beyond your control. In many cases, long-time residents are pushed out of their homes, victims of gentrification fueled by escalating tax burdens. How is this fair or just?

Let’s not forget about the role of local governments, many of which weaponize property taxes to pad their bloated budgets. Inefficiencies and mismanagement abound, yet instead of tightening their belts, municipalities simply raise property taxes. It’s a never-ending cycle: government overspends, taxpayers are forced to cover the shortfall, and the cycle repeats. If this were a private business, it would be labeled a racket.

What’s most insidious is the psychological toll. Property taxes erode the sense of pride and security that comes with homeownership. You can never fully exhale, never feel completely settled. Even in retirement, when you’ve done all the “right” things—worked hard, saved, and paid off your mortgage—you’re still on the hook. And the tax rates don’t stay fixed; they creep up year after year, eroding your financial stability and forcing tough decisions about what you can and cannot afford.

So, what’s the solution? Abolishing property taxes altogether might seem radical, but it’s worth considering. Funding for essential services could come from more equitable sources, such as consumption taxes, income taxes, or even land-use fees applied across the board—not just to homeowners. At the very least, we need a system that protects homeowners, particularly seniors and those on fixed incomes, from being priced out of their homes.

Homeownership is supposed to symbolize freedom and independence. But as long as property taxes exist in their current form, that dream remains a lie. True ownership means not living in constant fear of losing what you’ve worked so hard to achieve. Until we address this systemic injustice, the promise of homeownership will remain just that—a promise, not a reality.

Eric Kim