Re:IRS records reveal how the wealthiest avoid income tax
by thechao on Tuesday June 08, 2021 @09:18AM
(#27434751)
What!? I absolutely pay a rolling cost in the increase in value in my home — to the tune of 3.1% of its expected value, every year.
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Re:IRS records reveal how the wealthiest avoid income tax
by sudhirj on Tuesday June 08, 2021 @09:45AM
(#27435126)
That's a property tax, not quite the same thing. You'd still pay it even if the home didn't increase in value, and you'd still pay it even if the home decreased in value, right? Isn't that more a local infrastructure bill?
Re:IRS records reveal how the wealthiest avoid income tax
by magicalhippo on Tuesday June 08, 2021 @05:20PM
(#27441009)
Here the property tax is a function of the estimated marked value of the property.
Especially fun for old people living off their pension in their family home with large, attractive gardens in areas which were way outside town but now, some 50-60 years later, has become highly attractive...
https://www.oslo.kommune.no/skatt-og-naring/skatt-og-avgift/...
Re:IRS records reveal how the wealthiest avoid income tax
by brewdad on Tuesday June 08, 2021 @01:08PM
(#27437875)
The property tax is based on the value of the home. If your home loses value, your property tax goes down, all other things being equal. Increasing home values increase your property tax bill.