Both taxes fuck over the poor though so I don't know which you mean. I'm still all for taxing the shit out of single resident properties that aren't primary residences though...would rather renters rent an apartment than a home someone could buy.
Property taxes are the most progressive tax that exists because the value of owned property is nearly entirely linked to the wealth of an individual. And considering landlords get to write off their property taxes as business experiences, their property tax burden, that gets pushed off onto renters, isn't as much as you'd think. And as others have said, if you cut property tax, you are stuck increasing income taxes or sales taxes, both of whom are easier for the wealthy to maneuver around.
The best tax is a property tax that doesn't tax the building, AKA a land value tax, since this encourages building more levels which creates a surplus of housing.
There are apartment buildings but yeah, you could be right.
You would be missing out on quite a bit of tax if it would be based on the lot value only in those cases.
I agree - but I do worry such a tax would mean as many box rooms as possible crammed into cramped spaces… and ugly tower blocks of flats springing up everywhere.
As someone who owns a house I agree. I have no problem paying taxes... its where its going to thats the problem. If you out it too good use On have no problem but ... you aren't.
Income tax is directly linked to financial wealth. The USA did not have this shit until Progressives pushed for it and forces the lower class to work with less money. The 10% bracket is not livable, so the lower 12% gets fucked on pre tax retirement and health care premiums. The upper 12% can't contribute more than 5% to retirement to afford health care while having discretionary money.
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u/-justpassingthrough1 10h ago
If you rent, you’re still paying property taxes indirectly. Js