Most local governments in the United States impose a property tax as a principal source of revenue. This tax may be imposed on real estate or personal property. The tax is nearly always computed as the fair market value of the property times an assessment ratio times a tax rate. Values are determined by local officials, and may be disputed by property owners. A primary advantage of a property tax over a sales tax or income tax is that the revenue always equals the tax levy, unlike the other taxes, which can result in shortfalls producing budget deficits. The property tax always produces the required revenue for municipalities' tax levies. Property owners, especially seniors, believe the tax is unfair and does not represent the owner's ability to pay.
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@9FRP9673yrs3Y
Currently most of the debt the u.s government is facing is a result of the stimulus checks from 2020-2021, reducing their spending wouldn’t do jack except stagnate whatever operations are currently running right now, in theory its seems as simple as government spends less, more money is recouped daily and can be used to solve the nations current economic struggles right? No.
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@9FX6NB5Women’s Equality3yrs3Y
I mean it doesn’t does and doesn’t because if they are wasting their money in clothes and expensive stuff when it isn’t necessary and have all the luxury then that is showing you are responsible and have enough availability to pay for your taxes but then there’s the other side of the people who struggle even paying for daily stuff.
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Yes, but it depends on how much sales tax, because there are some people without a job and they cant buy things they need, same way with senior citizens.
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I don't favor simply increasing the sales tax to lower property taxes because I feel it's often not an equitable solution. I think we should reform property taxes so they're lower for average homeowners, which would help with housing affordability, while also making them higher for individuals or entities that own vast amounts of property. I see this as one part of creating an overall tax system that is truly fair and simplified for everyone.
@9TWGBWDIndependent2yrs2Y
Property taxes shouldn't exist period. The rights of citizens to own property without the encumbrance of governments true ownership through means of taxes is hypocritical. Nothing is truly owned under our current system. You could create legislation regarding rules for home owners to keep communities in good shape however there are other ways to generate more tax revenue. For example limiting the amount of money sports professionals and owners make and using the rest of the proceeds for local governments to start. A higher progressive tax on income for the mega rich essentially would satisfy this.
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