HB 1707 to Double property taxes

[DesertDweller]

Originally Posted by John Mercier

Not sure what that means.
Labor in the open market has a strong hand due to supply/demand.

So the State is wondering how do we get more supply or less demand.

Either one I think is just interceding in natural market forces that tend to self-correct over time.

I think they might just fear that natural correction.

The new entries into the area have significantly more income and wealth than we dealt with before or even during covid except in some very rare cases.

Starting to see customers with appointments that have annual household incomes measured in tens of millions become more of a regular occurrence.

I think the seacoast may be built out.

Ok, I'll bite. To confirm, you are not talking people that are worth $10mm or more but rather people that have incomes of more than $10mm (which is what you said). The number of people worth more than $10mm is 2.3 million and the people that make more than $10mm is 23,000. That's a pretty select group.