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One of so many policies with a nice headline. but which falls short of working well due to obvious, quite enormous externalizations. It is truly a paradox that
by jasmer 4y ago
One of so many policies with a nice headline. but which falls short of working well due to obvious, quite enormous externalizations. It is truly a paradox that you can buy something, like a normal home, but if home prices rise rapidly you can be out on your rump. A small property tax is effectively a huge wealth tax. People live a long time, one would imagine that 'property' of all things can't be taken from you? Perhaps all taxes should be adjusted for land prices as the ultimate arbiter of inflation?
And more pragmatically, like many states, a single party has dominated the legislature for many decades, and we can see what ensues from that.
- germandiago 4y agoIMHO taxes on property should not exist. Well, probably taxes neither but on property definitely no.
- jasmer 4y agoThey are form of wealth tax which is not nice, but they have pragmatic value for assessing consumption and also luxury consumption. A township might rightly charge more for services which are providing the economic value underpinning the property. And in many places, luxury taxes exist to tax 'non essential' forms of consumption in deference to things like investment, which is actually rational. Aka if your money is invested into value creating enterprise, it's not taxed the same way as your yacht or second mansion. That said, it can get excessive quickly.