You pay property tax because of the services that are provided to you by the municipality. Garbage collection, streets, parks, schools, libraries, public services, social programs, public events, etc.
While I understand the idea your going for here the intent of those taxes aren’t the same and the businesses that they are interested in would pay some form of tax (probably?).
I think something like a gross wealth tax, 10% of all wealth a year over over something like the poverty line * 100 in total assets
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I think that’s crazy
I also think that’s crazy. In the UK we pay stamp duty, a one time tax when you buy property. It’s much more if it isn’t your primary residence
You pay council tax. It is a different way of collecting the same tax.
Council tax doesn’t pay for any of the things that property taxes do. The USA also has separate taxes for bin collection etc
You’re paying for local services and the amount you pay is based on the value of your home. HTH
Yea but notably property taxes pay for schools in the USA, council tax pays for roads, lights, bins etc
In the UK you don’t get to go to a better school just because your house costs more money
It’s typically about 5% here
You pay property tax because of the services that are provided to you by the municipality. Garbage collection, streets, parks, schools, libraries, public services, social programs, public events, etc.
While I understand the idea your going for here the intent of those taxes aren’t the same and the businesses that they are interested in would pay some form of tax (probably?).
I think something like a gross wealth tax, 10% of all wealth a year over over something like the poverty line * 100 in total assets