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> The US property tax system is nothing like this. The government owns ALL the land, and no one else can ever own any. The government has tax authority over the
by User23 8y ago
> The US property tax system is nothing like this. The government owns ALL the land, and no one else can ever own any. The government has tax authority over the land and many other things.
Just a quibble, but, with the exception of federal lands, it's the individual states that levy property tax in their territory. Allodial title is what it's called when you have no obligations on the property. Nevada allowed limited allodial title, but it only lasts for the life of the owner. The way the implemented it was they computed an estimated total property tax and the owner would buy out the state's interest for his lifetime[1]. It actually provides additional privileges besides property tax exemption. Liens can't be enforced on an allodium, among other privileges.
[1] https://en.wikipedia.org/wiki/Allodial_title#Nevada https://en.wikipedia.org/wiki/Allodial_title#Nevada
- thaumasiotes 8y ago> The holder of an allodial title can voluntarily relinquish it at any time. The title shall be relinquished if the property is sold, leased or transferred by the allodial title holder; the allodial title holder no longer occupies the dwelling for 150 days; or the home is converted to anything other than a single-family dwelling occupied by the owner. For having "no obligations on the property", those are some pretty substantial obligations.