Re:Tax the Land
by bombcar on Friday April 15, 2022 @11:51PM
(#31049292)
This already happens in the midwest, where taxes are based on appraised value and someone from New York buying 160 acres of hunting land for some overpriced amount causes the small landholder next door to have to pay triple taxes.
[ Parent
| on HN ]
Where I live, NJ, tax amounts aren't calculated that way. They're derived from some complex mens based on local budgets. Since the towns rich people live in have the same budget it has the strange effect of everyone there paying much smaller percentage of property taxes.
The Midwest ones are based on local budgets but then allocated based on assessed values, so when your land jumps because of nearby purchases, you end up paying more related to those who’s property didn’t jump.