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20 sats \ 1 reply \ @Undisciplined 8 Apr \ parent \ on: Americans Have $35 Trillion in Housing Wealth—and It’s Costing Them econ
There are a very limited number of such places in the US. The only ones I'm aware of are a few unincorporated areas in Alaska. I believe Alaska is the only state where some of the land is not part of a county or municipality and the state has no property tax.
People generally just accept property taxes as part of life. However, we do know from the migration literature that people move away from places with higher property taxes, in favor of places with lower (that goes for all taxes, btw).
People generally just accept property taxes as part of life.
That's not the general sentiment here. It is partly because property was given a fundamental right by the constitution and it is clearly stated that if any property tax is levied India, it must be on the rental value/income of the property. This makes it similar to income tax. This means If my non agricultural property generates me an income of less than $15000 (approax.), it's exempted.
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