We’re talking about wealth, not money. If you buy a house $1M and a few years later it’s worth $1.4M, your wealth went up by $400k but it’s hardly taxeable unless you sell the house.
Me? A person who actually lives in the property and NEEDS to comply? MY home certainly is a tax burden on me when every single year it's taxable value is reassessed by the county for 20 percent more, requiring immediate and prompt payment before it's lien'd.
Such a joke.
Also in my experience there has been a relatively painless path to challenge the assessment. Although I have never seen an example where the $400 appraisal is worth paying to do so.
Sure, I need to be marked as a deliquent debtor (somehow) for my property to be taken away from me.
And sure, every year, I can pay the department of revenue an appraisal fee to undo the arbitrary decision to increase my tax responsibility.
How about though, we force municipalities and departments of revenues to actually examine the assessment, reassessments, and economic impact? The idea that my home, the land it sits on, an the unconscious value associated with it is worth 40 percent more to other homebuyers is absolutely laughable
Very shortly ,my town will have population 0 with the only commercial land being the giant paper factory owned by a chinese paper congolomerate with a stranglehold over shipping products.
They also cause problems like this because their goal is the appreciation of the assets, not necessarily to live in houses.
Now you'd have to cobble together a group of investors, but if you can't find people who don't understand your vision, you're out of luck.
Or you could go to a bank, so now the banks have more power, but they probably won't invest in your risky idea anyway.
Okay so I guess, now it's up to the government to undertake this large risky project? Great.
I don't know, I like the fact that motivated individuals can take a large amount of their own capital and take on large projects.
2016 Study: A study published in the Journal of the American Medical Association (JAMA) estimated that approximately 133,000 deaths in the US annually are attributable to poverty. 2019 Study: A report by the National Academies of Sciences, Engineering, and Medicine suggested that around 300,000 deaths could be linked to social factors like poverty and lack of access to healthcare. 2020 Report: The Kaiser Family Foundation estimated that roughly 136,000 deaths in 2018 were associated with poverty-related factors like lack of access to healthcare and healthy food.
Your "please think of the rich guys" argument holds no sway with me.