Quote:
Originally posted by lendaddy
Saw a thing on Cali property tax and it got me thinking:
What kind of fukced up model is property tax? It's not based on any actual need, it's just a boon for gubmint spending. The fact that I could sell my house for 30% more this year than last doesn't cost my locality anything.....so why do they need 30% more tax revenue????
This model need to be chaged to a flat fee per acreage or something. Maybe a premium on certain areas? Heck, I don't know. Sup, why do local gubmints need more money when my property goes up in value?
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Every tax that is passed is _designed_ from the start to "Soak the Rich". However, there are never enough rich people around to make the tax worthwhile, so the tax base grows until it hits the majority.
Property tax here in Texas, especially Houston, where there is only a 10% limit to the amount that your value can be raised (for tax purposes), 10% per year is what the taxes are going up.
Where in the H3LL is all the money going??? With the property values going up as fast as they are, the tax collections should be up by more than 50% in 4 years. Inflation has _not_ grown by 50% in 4 years, only 12.5%, so the net growth in inflation adjusted revenue is 33%. Are we getting 33% more of everything?
I preferred the way it was done in upstate NY. They set the city budget, calculated the value for all property in the City, then divided it up! You never knew exactly what the rate would be, but you usually didn't have 10% increases every year.
In California, they can only raise your prop taxes 2% per year. So they do...