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Property taxes are one of the few ways you can concretely tax the wealth of people that hold large amounts of property for speculative purposes, its far too eas
by throwaway2048 8y ago
Property taxes are one of the few ways you can concretely tax the wealth of people that hold large amounts of property for speculative purposes, its far too easy to play shell games with liquid money.
If you eliminate property tax, or prevent it from rising, you make the absentee owner who only cares about a payoff 20 years from now leaving perfectly livable homes empty many magnitudes worse. (as evidenced by california)
- cascom 8y agoIt’s not only speculative wealth or property that get’s taxed, ask yourself how many low-income senior citizen’s who are home owners now living in gentrified communities are put into a position where they need to sell their home due to property taxes.
- imtringued 8y agoThat's the purpose of property taxes. If they hadn't prevented construction of residential real estate then they wouldn't have to pay these high taxes.