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Property taxes are fairly progressive, from where I sit. Richer people have more assets and would pay more taxes.

ams6110 9y ago
Except there is no accounting for income. So if I'm poor, or become poor, I still have to pay the assesed property tax on any property I own. I may be forced to sell the property as a result. Property tax works against poor people being able to own property or keep property they own. This is why elderly people who may own their homes free and clear can still be forced out of them when they retire or become disabled.
- tmnvix 9y ago
  > ...if I'm poor, or become poor, I still have to pay the assesed property tax on any property I own. Are you really poor if you own valuable assets?
  - wils1245 9y ago
    Speaks to a problem of means testing property taxes on anything other than the property value - how to define poor in a way that can’t be games by skillful accounting?
- function_seven 9y ago
  A fix to this would be to lien the property with the unpaid taxes, but not force the sale. Eventually, the owner will sell or die. The tax liens can be recovered at that point. For an example tax of 2%, the property could sustain the liens for decades, allowing the owner to keep control of the land, even if they're unable to pay the taxes owed. The revenue to the government could be provided by bonds backed by those liens. Maybe require some portion of the tax to be paid in cash, and some penalty rate on the liens, to encourage payment of taxes by those that can afford them?
- hx87 9y ago
  If you're poor, how did you come to own the assets in the first place? If you became poor, then maybe you should sell the property to gain more liquidity, balance your portfolio, and transfer the property to someone with enough income to fully maintain it.
  - s73ver_ 9y ago
    People's situations change all the time. And saying that someone should have to leave their property that they own because they can't afford the taxes on it is pretty awful. Especially if they can't afford them because property values spiked.
- krrrh 9y ago
  Many jurisdictions offer deferred property tax payments for the retired, or disabled. Aside from that, someone who owns valuable fixed property free and clear should be able to find a lender who can open a small mortgage against the property to cover taxes.
  - s73ver_ 9y ago
    I would still require income to be able to pay back that mortgage.
s73ver_ 9y ago
They can also be quite regressive. If you buy a house somewhere, live in it and retire, and then property values shoot up, you're kinda screwed.
- ghaff 9y ago
  Hence Prop 13 in California--which lots of folks here complain about on a regular basis.

Except there is no accounting for income. So if I'm poor, or become poor, I still have to pay the assesed property tax on any property I own. I may be forced to sell the property as a result. Property tax works against poor people being able to own property or keep property they own. This is why elderly people who may own their homes free and clear can still be forced out of them when they retire or become disabled.

tmnvix 9y ago
> ...if I'm poor, or become poor, I still have to pay the assesed property tax on any property I own. Are you really poor if you own valuable assets?
- wils1245 9y ago
  Speaks to a problem of means testing property taxes on anything other than the property value - how to define poor in a way that can’t be games by skillful accounting?
function_seven 9y ago
A fix to this would be to lien the property with the unpaid taxes, but not force the sale. Eventually, the owner will sell or die. The tax liens can be recovered at that point. For an example tax of 2%, the property could sustain the liens for decades, allowing the owner to keep control of the land, even if they're unable to pay the taxes owed. The revenue to the government could be provided by bonds backed by those liens. Maybe require some portion of the tax to be paid in cash, and some penalty rate on the liens, to encourage payment of taxes by those that can afford them?
hx87 9y ago
If you're poor, how did you come to own the assets in the first place? If you became poor, then maybe you should sell the property to gain more liquidity, balance your portfolio, and transfer the property to someone with enough income to fully maintain it.
- s73ver_ 9y ago
  People's situations change all the time. And saying that someone should have to leave their property that they own because they can't afford the taxes on it is pretty awful. Especially if they can't afford them because property values spiked.
krrrh 9y ago
Many jurisdictions offer deferred property tax payments for the retired, or disabled. Aside from that, someone who owns valuable fixed property free and clear should be able to find a lender who can open a small mortgage against the property to cover taxes.
- s73ver_ 9y ago
  I would still require income to be able to pay back that mortgage.

s73ver_ 9y ago

They can also be quite regressive. If you buy a house somewhere, live in it and retire, and then property values shoot up, you're kinda screwed.

ghaff 9y ago
Hence Prop 13 in California--which lots of folks here complain about on a regular basis.