Comment on ‘My Property Tax Went From $15K to a Life-Altering $91K a Year’
roofuskit@lemmy.world 1 day agoI agree, we should replace property taxes with very large income and wealth taxes. First we can end property taxes and then we can implement guaranteed income so people who become disabled can afford to maintain their homes.
The thing about yearly property taxes is they often go to the city/municipality and that’s how they pay for things.
The city doesn’t charge income tax, that’s a state/province/fed level type thing.
We’d need a new way for cities to collect taxes themselves, or a new system to properly and fairly distribute taxes from the incomes to where they live based.
Definitely doable, but it’s a bit different than just raising taxes.
Some municipalities may also have an income tax (completely separate from state or federal income taxes). Other states have much larger sales taxes.
I pay a 1% income tax to my local government.
Interesting, I’ve never personally seen that.
Where I am we have fairly low property tax and a small municipal income tax. So it splits the burden equally. If you live outside of a municipality, there will be a small income tax to support your public school district. This is also on top of State taxes income taxes and Federal income taxes. Sales taxes are also a thing at the state and city level. Honestly, I don’t feel overly taxed with the total amount of money I pay in taxes. I receive the benefits of society. This is even for services I don’t consume, but I want the services available to my neighbors that may need them, such as housing assistance, elder care, supplemental nutrition, etc.
My city charges income tax. As does the locality I actually live in. Plus property tax. Plus a School in me tax on top of it…
HeyThisIsntTheYMCA@lemmy.world 1 day ago
Property tax is a wealth tax