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KS 
Member since Jan 31, 2016

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Re: “Income-Based Residential Property Tax System Proposed for All”

The biggest problem with this proposal is that it punishes people who, while they may have a high income, have more modest properties in RELATION to their income. It punishes them for living within their means and rewards some (though not all) people who signed up for more house than they can afford. If someone making over $200,000 has a house worth $300,000 and a family of 4 who has an income of $70,000 but also obtained a $300,000 house on a sub-prime loan and are living OUTSIDE of their means.....why should the properties be taxed differently? Property taxes should be based on the assessment of property values, as in most states. Not on income. We already have progressive income taxes. Property taxes should be based on property alone.

2 likes, 3 dislikes
Posted by KS on 01/31/2016 at 11:17 AM

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