Re:Schwab Leaves San Francisco for Texas
by kyralis on Saturday November 30, 2019 @02:09PM
(#21671621)
Property 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.
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Re:Schwab Leaves San Francisco for Texas
by whokal on Saturday November 30, 2019 @02:31PM
(#21671728)
It'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.