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cross-posted from: https://discuss.online/post/40219743
I wish I had a nickel for every time someone has blindly asserted to me that we can't tax investments and securities, as if it's some unimaginable thing to assess something's value when property taxes achieve that goal every single year.
At this point I'm convinced that wealth disparity is just a knob they twist by printing money and doing stock market manipulation, and they found the right spot where we keep working and are terrified to strike, and also complacent enough to keep just watching TV and trying to ignore the ridiculousness.
State controlled social media generates the signal they interpret to know how much to twist the inflation knob, AI and misinformation is another knob they twist to allow greater wealth disparity by convincing people their hunger pains are caused by something else, and it's like a weird management game to them where they want to keep us working as hard as possible, to the point we won't even take a day off during a fucking pandemic.
Property taxes don't go up relative to house prices. They go up relative to other homeowners. There is a common misconception that property taxes double if property values double. Absolutely not.
But still fuck oligarchs.
My city charges property taxes as a simple percentage of the assessed value of the property. If the assessed value of my home doubles, my property taxes absolutely double.
I imagine not everywhere does it the same... but what you're saying "absolutely not" to is absolutely the reality in which I personally live.
Property taxes in most states go up based on market value of the home. If one year the market value of a home is $450k and the next year it's appraised at $475k the taxes will reflect that new amount. Property tax is based on a percentage of home value, so if I home doubles in price that taxable amount is also doubles.
What? It's not 1 for 1, but it's certainly based on the assessed house value. That's relative.
In some places if your assessed value doubles, your property taxes double. Some places have laws that cap the increase per year, but not always.
Where I am, I think our city hall would be burned down if property taxes doubled with a house price doubling.
People in Ohio are trying to get a petition going to eliminate property taxes.
Our property taxes are too high, but eliminating them is the dumbest. If you thought corporate house buyers were bad before...
This! When I see people crying to stop property tax all I can think is "corporate home buying would go through the roof".
Time for the 90% tax rate to return for the next 10 years to get things back in order.