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Houses are not taxed based on any gains at all. Houses are taxed based on a government issued current valuation. People complain about the accuracy of these val
by AmericanChopper 4y ago
Houses are not taxed based on any gains at all. Houses are taxed based on a government issued current valuation. People complain about the accuracy of these valuations all the time, but the taxation has nothing to do with capital gains. If it was a tax on capital gains, then you’d only be paying a tax on the difference in valuation from year to year. Which isn’t how it works at all. It’s more of a wealth tax.
- Retric 4y agoI said unrealized gains not capital gains. The government doesn’t limit it’s valuation of the house to a demonstrated sales price but instead uses an estimate for the market price. Doing the same with stock is easy, they just hand out a tax break instead.
- AmericanChopper 4y ago> I said unrealized gains not capital gains. Unrealized (capital) gains…