2 ms·
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 recovere
by 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?