Quote:
Originally Posted by Biggd
This is such a ridiculous example. I could see how you would enjoy that scenario as I would also. If that was the case I would have bought many acres on the water years ago and just held on to it. The main reason I didn't was because of taxes. Although in if I knew what I know now I still should have.  Percentage of taxes on everything are based on value. |
Serious side note:
i am enjoying this debate, and everyone keeping it civil, this is what the forum is all about!
back to my soap box:
when the state sets a sales tax, does it adjust tax rates based on desirability of an item? on a meal tax, does it adjust tax rate based on where and what type of restaurant it is? on a hotel tax, does it adjust tax rate based on where it is? You can argue that i bought a more expensive meal so I am paying more tax so I chose that meal like i chose the property. But I might be buying a bigger meal a la McDonalds vs a 16oz steak
A market value flaw is that if my property is not up for sale, how does anyone know what I am willing to sell it for and what is someone willing to pay for that particular item, you do not, which is often the same counter argument of: they valued my property at 500k but I just bought it last year at 450k or i just bought it three months ago for 400k so why do they think its worth 500k now.
Yes if you went to a flat real estate tax, those in less desirable areas of a town will go up and those in more desirable areas will go down, at the end of the day the the land tax would be the same and if I have a 2000sqft home and the other was a 1500sqft home, there would still be more taxes coming from the extra 500sqft at the same rate, not market value