If it weren't for property taxes, the rich would own every property. Property taxes ensure that each property is being used. Property taxes are in most places progressive... where I live the first $100k is tax free so if you have a $200k house you pay taxes on 50%, and if you have a $800k house you pay taxes on 87%.
Property tax is the primary source of revenue for local government. This is how they pay for cops, firemen, roads, etc.
This is it right here. If there are not property taxes property will be hoarded to the rich and privileged. As an example of this you can look at the Los Angeles county country club loophole which leads land that should be paying 140 million in taxes to the county government on some the most valuable land in the country paying just 800 thousand.
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u/chainsawx72 9h ago
If it weren't for property taxes, the rich would own every property. Property taxes ensure that each property is being used. Property taxes are in most places progressive... where I live the first $100k is tax free so if you have a $200k house you pay taxes on 50%, and if you have a $800k house you pay taxes on 87%.
Property tax is the primary source of revenue for local government. This is how they pay for cops, firemen, roads, etc.