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The property taxes are sky high, yes, but they most definitely do not exempt the rich. There is no state income tax. I wouldn’t call the state’s general tax st
by crikli 7y ago
The property taxes are sky high, yes, but they most definitely do not exempt the rich. There is no state income tax. I wouldn’t call the state’s general tax structure progressive or regressive.
- kyralis 7y agoProperty taxes are inherently more regressive than income taxes, since since property (either directly or through rents) nearly always consumes a larger portion of the income/wealth of lower-means individuals.
- whokal 7y agoIt's not obvious to me that you can't also have a progressive / marginal tax system for property taxes based on home valuations (e.g. home values >$1MM taxed higher than those worth $200K). So, I don't think property taxes are inherently regressive. That said, I don't think it's enough to just look at one tax. We have to consider taxes and regulations as a whole to understand whether a place is overall regressive or not. This leaves room for different implementations of tax policy which if done correctly will benefit the people.
- deleted 7y ago[deleted]