Originally Posted by
OpieTaylor
Identical means same sales price, in which case they would pay the same.
not to me. identical means identical value
It’s not fair to repo paid off property because taxes spike due to comps.
it’s as fair as charging others higher taxes for the same asset.
If most buy a house at the same % of their income then the taxes stay commiserate with their salary.
now look at home prices vs income over the past 40 years
If young people can’t afford the tax then they don’t buy and that corrects the home value.
yep. screwing those with the misfortune to have been born after you
Assessing and taxing unrealized equity is sounds ridiculous and a cap gains tax at sale should be favored over taxing equity.
i don’t think it’s ridiculous at all