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My view is to simply allow property taxes to be deferred until sale or death. Alternatives exist (eg taxable value set by what you paid not marked to market)
by Ntrails 3y ago
My view is to simply allow property taxes to be deferred until sale or death.
Alternatives exist (eg taxable value set by what you paid not marked to market)
- michaelmrose 3y agoIncome tax is inherently progressive and doesn't hit Grandma who lives on modest retirement and social security. Having one reducing reliance on property taxes
- rcpt 3y agoDo want California's housing situation? Because that's how you get California's housing situation.
- michaelmrose 3y agoCalifornia's housing situation is because they are a highly desirable location and didn't build enough housing to meet demand not because they have an income tax.
- seanmcdirmid 3y agoSelling your house and losing your lower assessment is a huge reason not to sell your house. This make California’s real estate market less liquid then other real estate markets, since selling can have a huge extra cost vs not selling.
- Ntrails 3y ago"We've got a bunch of people with massive wealth, so tax only the people earning new money" doesn't sound like it is going to equalise the state of the world. I will also accept inheritance tax at 90%, if you really want to skip property taxes :)
- michaelmrose 3y agoI'm perfectly open to a wealth not just inheritance tax too
- no_wizard 3y agoWhy not just tax the land value and disregard the things in top of it entirely?
- tzs 3y agoOne reason would be that it is the things on top of the land that determine how much of various government built and maintained infrastructure is needed.