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It depends where, as cities have some level of freedom in the shenanigan they implement in their tax structure. Normally though, taxation is just a matter of t
by shados 5y ago
It depends where, as cities have some level of freedom in the shenanigan they implement in their tax structure.
Normally though, taxation is just a matter of the property value. Often, cities with lower housing cost have higher tax rates (because the people working the sewers aren't any cheaper and they need to get paid).
Many cities also have owner occupant or primary residence abatements, so the landlords pay more in taxes than the resident owners. Some cities though split homes in one of several categories, and single families may be taxed differently from multi family or condos. Sometimes multi family and condos are taxed less to encourage higher density construction, but it wouldn't change anything if you're a landlord or not (aside for the tax abatement). Landlords can deduct some of their expenses from their business' taxes though, and I think (don't quote me) their property taxes are part of that. Your millage may vary.
- lotsofpulp 5y ago> Normally though, taxation is just a matter of the property value. Total tax burdens are a function of government expenditures. Property tax is a rough attempt at scaling the tax burden to a person’s wealth, but it has many caveats varying in many jurisdictions. However, government debt is a big part of expenses, and each city and state’s debt can vary greatly than from another. Here is a good website ranking the big cities and all the states: https://www.truthinaccounting.org/news/detail/financial-state-of-the-states-2020 https://www.truthinaccounting.org/news/detail/financial-stat... https://www.truthinaccounting.org/news/detail/financial-state-of-the-cities-2021 https://www.truthinaccounting.org/news/detail/financial-stat... I would expect cities and states where the per taxpayer debt burden is a standard deviation or more from the mean to have measurably higher taxes and/or fewer government services/investments.
- shados 5y agoyes, though I'm not sure what it has to do with the original question. Someone is comparing 2 types of property in a given area. The city's tax burden is a constant between the two in that scenario, so the only variable will be how the tax burden is implemented by that city, which is usually property value with some abatements based on residency status and type of properties.
- lotsofpulp 5y agoOh yes, I misunderstood the chain of comments. My bad!