The "Sharing" Economy: Issues Facing Platforms, Participants, and Regulators A Federal Trade Commission Workshop
I am single mom of three sons. all are grown now. all graduated university. I bought my home in 1997 on an Austin Independent School District teacher salary. My home was $150k and taxes were $3k. This was affordable. I managed my money well and was able to pay off my mortgage. I was so proud of myself. Taxes were on a constant rise. I had to pay taxes annually, so I had to save the money thru out the year. This was possible when taxes were reasonable. City of Austin grants tax exemptions, deductions etc. to corps and businesses and homeowners make up the difference. When my taxes approached $9k I could not save enough money and was forced to put my taxes on a credit card. I did this for 2 yrs. Travis county appraisal district charges $285 transaction fee for charging taxes. Ended up owing over $20k in credit card debt. I had to refinance my paid for house, take money out to pay off credit cards and have my taxes taken out monthly. My pmt is $1,150 about half my monthly take home. $980 of that is for taxes. In an effort to stay in my home, I opened up my house as a VRBO (vacation rental by owner) and air bnb. I do not like doing this. I live alone. It is scary. I do not like cleaning bathroom and linens after strangers. But this is what I have been forced to do in order to keep my home. Of course City of Austin is there with their greedy hand out, demanding license/registration fees annually and collecting %15 hotel tax. ugh. I cannot believe what I have been reduced to because of the unfair tax burden.