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Latest Discussions»General Discussion»Got our wealth tax bills ...»Reply #20
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In reply to the discussion: Got our wealth tax bills this week. [View all]

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BrianTheEVGuyHouse of RobertsUniqueUserNameRandomNumbers
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Got our wealth tax bills this week. [View all] frogstar0 Sep 2024 OP
Why is it a wealth tax? LuckyCharms Sep 2024 #1
Because you pay taxes on the value (including unrealized gain) of your property. Hassin Bin Sober Sep 2024 #5
But as stated by another poster below... LuckyCharms Sep 2024 #6
So it's a regressive wealth tax. Doesn't change the fact it's a wealth tax. It just makes it all that more common Hassin Bin Sober Sep 2024 #10
My school taxes are based on an assessed value of $3,200, and it's been that way since 1978 with no change. LuckyCharms Sep 2024 #11
That seems weird to me. There is an entire industry of law practice based on fighting increased assessed values. Hassin Bin Sober Sep 2024 #14
It's weird to me as well. LuckyCharms Sep 2024 #16
I have no clue how your state does it but NY State has an equalization rate for each town or city. frogstar0 Sep 2024 #17
Then for school taxes, what do you think they should be based on, rather than property? LuckyCharms Sep 2024 #18
Income. Voltaire2 Sep 2024 #31
Would that taxing process be administered by the school district? LuckyCharms Sep 2024 #33
It should be statewide and provide equitable Voltaire2 Sep 2024 #36
The only way that will happen is if we stop protecting jimfields33 Sep 2024 #44
How big? dpibel Sep 2024 #59
I meant Ukraine. Sorry about that. jimfields33 Sep 2024 #63
Here is some startling news for you!!!! dpibel Sep 2024 #64
The Horn of Africa is made up of a group of countries. jimfields33 Sep 2024 #65
More news!! dpibel Sep 2024 #67
We spend zero on Afghanistan. We got out in 2021. Voltaire2 Sep 2024 #71
That's very unusual. In many (most?) jurisdictions, properties spooky3 Sep 2024 #28
Sounds like California. Voltaire2 Sep 2024 #30
Not in California...Yet another plus about living in this glorious state! PeaceWave Sep 2024 #23
Wealth tax? I don't consider my property taxes a wealth tax. jimfields33 Sep 2024 #2
It is literally a tax on unrealized wealth. Voltaire2 Sep 2024 #32
Well. I believe it a tax to pay for schools, police, jimfields33 Sep 2024 #42
How does that make it not a wealth tax? Voltaire2 Sep 2024 #43
It just doesn't. There is nobody on earth who says it is. jimfields33 Sep 2024 #50
You should find out dpibel Sep 2024 #52
Why would I? It's one of vice President harris' platform initiative. jimfields33 Sep 2024 #53
Why would you? dpibel Sep 2024 #60
BTW dpibel Sep 2024 #61
I think you're saying wealth taxes are normal? The GQP shouldn't complain about taxes? lindysalsagal Sep 2024 #3
Yes, not new, not weird, not undoable frogstar0 Sep 2024 #73
Even renters pay for schools... getagrip_already Sep 2024 #4
ergo (in my humble opinion) ret5hd Sep 2024 #8
True... getagrip_already Sep 2024 #9
When my old house didn't sell and I had to rent it out, the rent spooky3 Sep 2024 #29
They can only pass through what the market allows. Voltaire2 Sep 2024 #34
I own a house, but I don't feel like I'm paying a wealth tax. patphil Sep 2024 #7
Any tax, regardless of what it is or what you call it, is used to "insure the community can function." PSPS Sep 2024 #12
Very true, but a wealth tax is based on net worth. patphil Sep 2024 #56
Oddly enough the tax code considers the increase Voltaire2 Sep 2024 #62
That's fine with me. PSPS Sep 2024 #70
But you do. frogstar0 Sep 2024 #19
You're talking about a piece of a person's net worth. patphil Sep 2024 #58
Right but.... frogstar0 Sep 2024 #74
It is irrelevant what it is used for. Voltaire2 Sep 2024 #35
Not Understanding That ProfessorGAC Sep 2024 #46
It's worse than that actually LetsGetSmartAboutIt Sep 2024 #13
Don't mortgagees pay 100% of property taxes House of Roberts Sep 2024 #15
You mean......wait for it..... frogstar0 Sep 2024 #20
Yep BrianTheEVGuy Sep 2024 #22
This isn't how it works in California. PeaceWave Sep 2024 #24
Michigan is similar DetroitLegalBeagle Sep 2024 #55
Dave the electrician and Maddy the plumber made bad real estate investments? Sparkly Sep 2024 #78
It's even worse than that. What Elon and friends are whining about spooky3 Sep 2024 #40
The mortgage escrow account pays the property taxes and insurance. haele Sep 2024 #25
We Split Our Payments ProfessorGAC Sep 2024 #47
Depends on your mortgage. And it is irrelevant. Voltaire2 Sep 2024 #37
What 'depends on your mortgage'? House of Roberts Sep 2024 #45
Right. So you put enough down that the bank didn't add an escrow requirement to the mortgage. Voltaire2 Sep 2024 #48
My ex paid a down payment on the initial purchase of the home House of Roberts Sep 2024 #68
Yes that sucks. Voltaire2 Sep 2024 #69
That's a very good point. Nt lostnfound Sep 2024 #38
No it is utterly irrelevant. Voltaire2 Sep 2024 #41
Well you see... BrianTheEVGuy Sep 2024 #21
In fairness, Elon musk paid 11 billion in taxes. jimfields33 Sep 2024 #72
That poor Elon! dpibel Sep 2024 #75
In Minnesota, renters get a property tax rebate check. mn9driver Sep 2024 #26
People who just bought a home have no real equity or wealth in their home. pwb Sep 2024 #27
The point is completely the opposite. Voltaire2 Sep 2024 #39
And also, yes the bank owns most of the wealth at first, but you get to pay the tax for the bank's share too. Voltaire2 Sep 2024 #49
Yes, it's a wealth tax, but ...... dumbcat Sep 2024 #51
Regressive wealth tax for sure... JT45242 Sep 2024 #54
This message was self-deleted by its author Wednesdays Sep 2024 #57
Got mine too maxrandb Sep 2024 #66
Congratulations!! Sparkly Sep 2024 #76
Wealth tax drives trumpsters crazy, even though it doesn't impact most of them. I'm beginning to think a tax on stock Silent Type Sep 2024 #77
I pay my fair share, No complaints, Social compact and all. OAITW r.2.0 Sep 2024 #79
Latest Discussions»General Discussion»Got our wealth tax bills ...»Reply #20
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