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Owing your home today is nearly impossible, but even if you did the ever increasing property taxes will bury you
(lemmy.world)
this post was submitted on 06 Mar 2025
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i mean, this is less of a property tax issue and more of a social security thing.
Though i am pretty fundamentally against property tax, it's a physical thing that i can own, i don't see why i should pay taxes on it. If you want to tax me just hit me with income tax.
the wealthy dodge this by a bunch of schemes that don't count as 'income'.
I hate paying property tax, but reckon it's the only way to get money out of the fortunate ones that are lucky enough to own a chunk.
And the bigger the chunk, the more they owe.
but that's not going to be comparative to the amount of wealth they own though. Unless of course you artificially raise the value of land, but that's not going to make it any more expensive now is it?
Not for the billionaires, no, though they probably have several homes and lots of acreage and still pay significantly more than you and I. Better the wealthy pay more even if it's not going to scale precisely.
It's pretty easy to dodge property taxes also.
Why don't you share how?
because you can literally find it on the internet, it's not a big secret or something. It's literally the law, and the law is public.
Ask your city clerk about it. That person can tell you what the city/county/township meeting format is and how to participate. But basically, you go to the meeting, bring some photos to support your claim, and discuss the matter like a civil human being. It's not rocket surgery. You don't need a lawyer either.
yeah, that's called tax evasion, which is fraudulent. That's bad. I feel like i don't have to explain this, but the obvious implication is that we should fix tax evasion, by preventing loopholes. And shutting down the rest of the frankly, redundant tax law that doesn't really do anything except make it more complicated, and harder to track.
It's a wealth tax on wealth that's very difficult to hide.
except for the fact that it's a wealth tax on wealth that's not really consequential. An income tax by definition must tax ALL income earned by an individual, you cannot hide from that, it's definitionally, evasion.
How is real estate wealth not consequential?Real estate wealth is real wealth, it's why it's literally in the name.
Personal income tax is not a wealth tax, and there are myriad ways to avoid it without evading it.
it's pretty fundamental, there is only a fixed amount of land that exists in the country. A billionaire has roughly 1 billion more dollars than i do. I have roughly one billion dollars less than them, they, weirdly enough, don't have one billion more times land than me.
Theoretically they should have "1 billion times more property tax" than i do, but i'm going to imagine that's not even possible under current tax law.
yeah, because then it's not income.
Killing time are you being intentionally obtuse just to kill time?
very observant, yes that is arguably part of the shtick.
People need to stop thinking about property like it's any other regular thing like a vehicle.
Land is not a thing it is a limited resource.
If someone owns a piece of land in a city it doesn't matter what they are currently doing with it, even if they do nothing with it, that's wasting potential that someone else could be doing with it and affects everyone around that piece of land.
that is true, but it's not like we have things like imminent domain.
Cause you don't own it. You are borrowing it from the government.
yeah but then i shouldn't have to pay for it, i should be able to rent it, or lease it. Which to be fair, i guess leasing is the closest thing.
Property has infrastructure like water, roads, electrical, sewers, etc running to it that needs to be maintained. It also has things like fire fighting police surveyors etc that need to be paid in order to maintain society. Everyone could work in a city therefore the city/county/state would collect the income tax but the local town you live in doesn't get any of that money.
Roads that are too big, house that are too spread out.
Police because stores refuse to hire their own security and offload it to onto your property tax.
Sewers because dumb people are too stupid to compost properly, and now we need chemicals on farm fields since the traditional method of composting is dead.
Garbage trucks and landfills because companies sell you wrappers and containers that outlive the products and are made from toxic waste.
there's also stuff like gas tax, which often funds roads. Infrastructure often isn't really related to the amount of property there is anyway. It's related to the amount of land, and density per sq mile. But i guess you could charge farmers a lot of property tax, since they own a lot of land, that will solve that problem.