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Lower taxes perhaps? Or better yet, eliminate the property taxes and shift them to a sales tax collected upon sale. Or use existing capital gains taxes. But, t
by briandear 8y ago
Lower taxes perhaps? Or better yet, eliminate the property taxes and shift them to a sales tax collected upon sale. Or use existing capital gains taxes.
But, to your point: why shouldn’t people pay tax on the value of their property? If they can’t afford the tax, then obviously they can’t afford the house right? Prop 13 is already effectively a Ponzi scheme— actual tax cost is paid by future investors rather than the current investor. So if I buy a house today, my tax rate is x. Tomorrow, my tax rate is still x even if the actual cost of government and my home value has increased. So tomorrow’s buyer pays their tax plus the difference between my x and the actual tax required. Tomorrow’s buyer perpetually subsidizes yesterday’s buyer.
That isn’t fair at all.