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Increase the percentage that taxes can be raised each year, and things will slowly correct. There's no free lunch. Lower property taxes mean higher sales and
by mywittyname 5y ago
Increase the percentage that taxes can be raised each year, and things will slowly correct.
There's no free lunch. Lower property taxes mean higher sales and income taxes to compensate. The reverse is true too; when you go to states with no income tax, usually they have high property and sales taxes.
All you're deciding is the distribution of tax payments.
- nullc 5y agoSales tax in Florida (no income tax) is lower than California's. Property tax rates are somewhat higher nominally in florida but homes in California are about 4x more expensive than Florida, so the total amount paid in taxes in Florida is much lower (both in total and relative to median income). I don't think your comment is correct generally-- yes, the difference isn't quite as large as you might guess by looking at the bare rates but no income tax states still have significantly lower tax burdens.