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I disagree; property taxes make sense for certain specific things that are tied directly to the property itself. For example, if you want police, fire departme

I disagree; property taxes make sense for certain specific things that are tied directly to the property itself. For example, if you want police, fire department, schools, sewage and water supply, etc., it makes sense to tie that taxation to your house directly since those are features and benefits of where you choose to live. What's happening in Texas with valuations seems absolutely mind-bogglingly stupid though. When you have neighbors with identical lots and similar single family homes valued 200k+ difference in property valuation, there's a problem.

squarefoot 4y ago
> property taxes make sense for certain specific things that are tied directly to the property itself. True, but that should be addressed with income tax, so that situations like losing a job for some time (not that impossible these days) doesn't force someone to sell the house. In my country the main home is exempt, but from the 2nd one on there's a property tax on which I fully agree. I would go even further and tax more the 2nd+ houses that aren't offered for rent, so that there is enough offer that the demand doesn't drive prices up also for houses for sale. That may be a local phenomenon having no equivalent in the US, but I observed the tendency to keep a lot of houses empty and unused, some well connected construction entepreneurs build entire condos then keep them empty for years after they're completed. My only possible explanation is that they're keeping the offer low in order to keep the demand high, therefore driving or keeping the prices up. Well thought taxes should address this problem without hitting the poor, but some of those people are so well connected with politicians that this is not going to happen anytime soon.
TheChaplain 4y ago
Exactly, funky valuations together with property taxes becomes a tool to keep low-income and struggling far away in even crappy areas. Property taxes may work fine for the FAANG-employed high income citizen, but it is a way worse deal for medium/low income as well as retirees.

squarefoot 4y ago

> property taxes make sense for certain specific things that are tied directly to the property itself. True, but that should be addressed with income tax, so that situations like losing a job for some time (not that impossible these days) doesn't force someone to sell the house. In my country the main home is exempt, but from the 2nd one on there's a property tax on which I fully agree. I would go even further and tax more the 2nd+ houses that aren't offered for rent, so that there is enough offer that the demand doesn't drive prices up also for houses for sale. That may be a local phenomenon having no equivalent in the US, but I observed the tendency to keep a lot of houses empty and unused, some well connected construction entepreneurs build entire condos then keep them empty for years after they're completed. My only possible explanation is that they're keeping the offer low in order to keep the demand high, therefore driving or keeping the prices up. Well thought taxes should address this problem without hitting the poor, but some of those people are so well connected with politicians that this is not going to happen anytime soon.

TheChaplain 4y ago

Exactly, funky valuations together with property taxes becomes a tool to keep low-income and struggling far away in even crappy areas. Property taxes may work fine for the FAANG-employed high income citizen, but it is a way worse deal for medium/low income as well as retirees.