DISQUS

Rezistik · 8 months ago

I prefer to think that a reworded fair tax would be better than a property tax.

(In its current wording it allows for the government to continue income taxation after x amount of time, along with its sales tax. I feel this would be extremely bad, a rewording would have to remove that.)

I also wonder if fair tax would be detrimental if implemented now, it would put a temporary hold on spending which could be very very bad. It would also add more taxation to the poor potentially.

So I am split on the issue.

Hawk · 8 months ago

[quote]Consumption taxes, for instance, are better than taxes on property or income because consumption taxes don't punish you for earning more.[/quote]And it also pushes a higher tax burden to the poor, which is always a good thing.

ec99 · 8 months ago

I wouldn't mind a property tax as long as the revenue goes to services needed by the community. It's when local government uses them to satisfy the wants of part of the community (dog parks, health centers, the arts) that I get ticked.

Paul Smetana · 8 months ago

there is no such thing as a fair tax. That is why you should have many different types of taxes. As a farmer I am hit with high property taxes, high gas taxes, high license fees for all of the vehicals and high sales taxes on imputs. An insurance agent would pay very little of either, but could get hit with sales taxes, gas taxes, and income taxes. Taxes will never be fair, but the best way to tax is to have many different taxes to catch everyone. The average size farm in the north central part of ND is 4000 acres of both owned and rented. The real estate taxes run about $5.00 per acre. That means the the average farm here has to generate about $20,000.00 just to pay the property tax on all of the land in the average size farm. Before someone says that we don't pay the tax on the rented land, remember that the first thing that is done with the rent we pay is to pay the tax, thus the farm has to generate the revenue for the tax.

J.bob · 8 months ago

Obviously taxes to support city services must enacted in some way, however, how fair really is the poperty tax as it exists now? You`re taxed on the value of your property, but what does that have to do with how much your city "spends" on you? Shouldn`t (maybe) the single person in a mansion pay less than a couple with five children in a smaller house? Who will use the roads, schools, police, ect., more?

J.bob · 8 months ago

"Fair tax... would add more tax to the poor." Hence the term "fair", as almost 40% of wage earners pay no income tax.

Stop Repossession · 7 months ago

Hi,

The idea that a property tax would have avoided the current budget crisis is misleading. The sales tax is an immediate reflection of the local economy. The property tax is delayed by the the reassessment cycle. While property tax is stable right now, the real estate market is down sharply as well. Next year and subsequent years are going to show 30% or so declines in property values. So property tax revenue is going to also go down sharply next year. And it will also take longer to recover because of the delay caused by having to be reassessed.
Stop Repossession