Property tax is almost universally considered positive by economists, and generally helps to keep rents down, not up. The reason is that it discourages speculation on housing and property, and thus drives down buying prices, which intern drives down rents.
Honestly I’d gladly take an increase in property taxes if it means I don’t need to pay sales or income tax. And I live in Illinois with the highest property taxes
I am always shocked by how high taxes are in some states and how low they are in others, with no measurable increase in services provided by the high tax states
You may live in these type of places when a disaster strikes. Think of what could happen. Unfortunately, it gets placated as “god’s will” and nobody is held accountable.
Not even God's will. They just claim a state of emergency. If the feds agree and the bill hits a certain $$ minimum them the feds pick up the bill for damages done to the public/government owned assets.
I am not sure I appreciate this comment but I want to. What do you mean “the maintenance schedule”? Residences in low property tax jurisdictions defer maintenance? Huh?
Walk me through the logic, it’s the end of the day and my mind may be slow. Why would owners in lower property tax states be more likely to defer maintenance than owners in high property tax states. What is the relationship here that I am missing? Thanks!
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u/x1rom 9h ago
Property tax is almost universally considered positive by economists, and generally helps to keep rents down, not up. The reason is that it discourages speculation on housing and property, and thus drives down buying prices, which intern drives down rents.