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>The contract breech: Property taxes going up so fast that the only possible solution was to sell your home. Now, of course the value of the home was going up,
by asdfgasd 7y ago
>The contract breech: Property taxes going up so fast that the only possible solution was to sell your home. Now, of course the value of the home was going up, which was what was driving the taxes. But forcing pensioners to sell their homes, disrupting/destroying a life-time of plans and work was never going to be a smooth ride -- who could have thought that it would be?
Financial instruments that prevent that already exist. If your home is worth millions of dollars it's not that hard to find a way to pay the property tax. "Having more money" is rarely a real problem.
> a sufficient number of desperate people saw it as a solution to get it enacted.
No, people who's material interests are in direct conflict with a functional society pushed for it. It passed through a combination of "think of the elders" concern-trolling and libertarian dark money.
- zepto 7y agoYour solution is to make real estate into just a rental from the state. That’s not a great one either.
- asdfgasd 7y ago> Your solution is to make real estate into just a rental from the state. What's wrong with that? I'm not really sure where this idea that we have a 'right' to property ownership of land came from, especially when that property is largely a consequence of genocide. A better solution would be distributed cooperative ownership of property with state oversight (avoids the perverse incentives of a powerful state), but that would require massive changes to the legal frameworks surrounding property---so I'm not sure it's likely anytime soon.
- wmf 7y agoSpecifically, you could use a reverse mortgage to pay property tax. A similar solution that has been proposed is that unpaid property taxes could accumulate as a lien and thus be paid when the house is sold.
- selimthegrim 7y agoI thought this was standard-it happened to many properties after Katrina