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Land owners make up a plurality of voters. In some cases those land owners are retirees living in a house they bought 45 years ago others are people who own 500
by kemotep 1y ago
Land owners make up a plurality of voters. In some cases those land owners are retirees living in a house they bought 45 years ago others are people who own 500 houses.
The land value tax “equally” punishes them for their inefficient land usage. But at some point we need to pay our fair share on taxes and the later group hiding behind the former group is how you end up with California’s dumpster fire of a housing crisis.
- daveguy 1y agoI agree with this. I really do not know why in the hell one person or entity owning 500 houses wouldn't pay more in taxes for the 500th house than the 1st house. You pay more income tax on the 500,000th dollar than the first dollar. Land is taxed regressively in favor of oligarchs. First house is claimed as homestead and gains on sale aren't taxed, but the yearly property tax should work similarly.
- bluGill 1y agoWhere I live homestead status affects yearly taxes as well. This is a negative for anyone who is renting since they now have to pay more rent to cover those taxes. (taxes set a floor on rent long term, though of course tax is only one factor in rental prices)