2 ms·
> [0] Of course, "everyone" likely means "every property owner", as school taxes are usually property taxes. everyone pays property taxes, but only property ow
by sigstoat 10y ago
> [0] Of course, "everyone" likely means "every property owner", as school taxes are usually property taxes.
everyone pays property taxes, but only property owners pay it directly. for everyone else it is hidden in the costs of goods and services that required real estate.
- ThrustVectoring 10y agoThe winning bid for a house is from someone who can afford to pay $1000/mo, and there are no property taxes. The house sells at whatever mortgage $1000/mo buys. Now, add $200/mo of property taxes. The winning bidder now pays whatever mortgage $800/mo buys, since there's nobody who wants to pay $1001/mo overall for it (otherwise they'd have won the other bid). Taxes on the unimproved value of land are pretty much equivalent to seizing ground rents. That doesn't really make things more expensive.