Property Taxes

[Luked]

I think they should be eliminated all together across the board, end of story. If you buy property you should own it and not have to pay what amounts to rent to the government. The thing often overlooked by many is that home ownership would sky rocket if they were eliminated because you would have an absolutely safe investment to make. Land and homes never really lose value and in my eyes there isn't a more secure investment that can be made.

The simple question is this, if I have $100K in cash and convert it to land what has changed that I now owe the government anything?

 

[TheRiverRunsDeep]

Then, you would have to change the taxes all togther if one tax goes another gets raised.

 

[Emperor Nero]

I think they should be eliminated all together across the board, end of story. If you buy property you should own it and not have to pay what amounts to rent to the government. The thing often overlooked by many is that home ownership would sky rocket if they were eliminated because you would have an absolutely safe investment to make. Land and homes never really lose value and in my eyes there isn't a more secure investment that can be made.

The simple question is this, if I have $100K in cash and convert it to land what has changed that I now owe the government anything?

How did you get the 100k? You are paying taxes on it some way unless it is drug money or something. You have little clue on how the housing market works. Land values are based on many factors ranging from location, size, contents, and more and fluctuate based on the current market and future development. Houses lose value all of the time if they are not in a constant state of repair and renovation. Land/homes are a solid investment if the market is right for it, and right now would be a nice time to pick up a few properties because the market is on a downswing. You renovate and hold it, then resell.

Eliminating property taxes means other taxes will be levied or raised in it's place.

 

[waltrulz]

Property tax is use for state and local government revenue to give that property value. A good example of this is the Outer Banks in North Carolina, Where the population is very sessional and property can be highly profitable to to the influx of tourist in the summer months with most land owners living else where. Which causes a very high property tax, this property tax is used for fire-departments, police, and beach rejuvenation which is all very expensive, and unattainable for a small county to fund. Without this upkeep done by the local and state government your property would be meaningless. Most investment charge fees, and/or cap returns. Like wise you are not getting a better deal unless you are informed about something which the public is not, which is illegal.