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If you have no money even to pay the property taxes, what money do you have to even improve the economy with that property? Should we praise that the lands just
by jbmorgado 10y ago
If you have no money even to pay the property taxes, what money do you have to even improve the economy with that property? Should we praise that the lands just stay there with no output?
Property taxes have this interesting economic plus side: It stops being profitable to just amass wealth, instead, you have to use it to create wealth in order to keep it.
Also, unlike what people in the comments are trying to make of it, countries high property taxes in EU are in good economic condition, like Luxembourg and the UK where they are respectively 1.5x and 2x what they are in Greece. In fact all the countries with high property taxes from OECD are amongst the top economic performers of OECD.
https://data.oecd.org/tax/tax-on-property.htm https://data.oecd.org/tax/tax-on-property.htm
It should be clear just from that, that there is absolutely no correlation between high property taxes and a bad economy.