3 ms·
Why would a “tax authority” be buying property? Sounds like we are overthinking the problem and coming up with unreal scenarios
by foogazi 7y ago
Why would a “tax authority” be buying property?
Sounds like we are overthinking the problem and coming up with unreal scenarios
- ardy42 7y ago> Why would a “tax authority” be buying property? Basically, to disincentivize under-reporting the property's value for tax purposes. Many, many business manage to get away with egregious undervaluing to avoid property taxes today. For instance (IIRC) Apple values some of its headquarters buildings at $1 for tax purposes using an egregious tax theory, and they've gotten away with it for some time. They wouldn't do that if Cupertino could literally force a sale of that building for $1, it would be too risky for them.