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by tzs
490 days ago
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The nice thing about income taxes is that when your income increases, which increases the amount of tax you owe, your ability to afford that tax also goes up due to that income increase. With property taxes you don't have that coupling between changes in income and changes in the tax. That can make a property tax way more painful. |
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That's exactly what should happen in a productive economy: big cash payments to give up underutilized land to somebody who can make better use of it.
People talk about taxing granny out of her house, but they conveniently forget to mention that granny is keeping half a dozen people homeless by hoarding an underutilized property.