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Increased income is realized value. You actually have the income. Imagine that instead, your income was taxed based on the government estimated income you coul
by teakettle42 4y ago
Increased income is realized value. You actually have the income.
Imagine that instead, your income was taxed based on the government estimated income you could have if you switched to a new job that paid more, and you were taxed based on that hypothetical increase in your wages.
I see no profit from my home’s increased estimated value unless/until I sell and move out of the area.
- TimPC 4y agoYou see all sorts of value from the increased value of your home including the ability to get larger loans using the land/property as an asset to back that loan. Not having the cash in hand isn’t a good basis for not charging a tax, especially when that tax is a tiny fraction of the actual value of the property.
- teakettle42 4y ago> Not having the cash in hand isn’t a good basis for not charging a tax That’s a great basis for not charging a tax. > … especially when that tax is a tiny fraction of the actual value of the property. How does that justify a tax?