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Thread: Paying school tax on 2nd homes?

  1. #171
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    Re: Paying school tax on 2nd homes?

    Quote Originally Posted by Geoist View Post
    How so? If anything, it would help reduce taxes in rural areas as the effects of LVT would mean less suburban encroachment on rural land.
    Please explain exactly how you are assessing the value of these semi-rural tracts of open land. (with development slowing coming closer)

    Currently they would be assessed a low value because they are unimproved. Explain how their value would decrease further under a LVT...
    So we should put you down as supporting putting GPS trackers in everyone to "save lives"?
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    Re: Paying school tax on 2nd homes?

    Quote Originally Posted by Critter7r View Post
    I'm imagining a semi-rural area with some larger tracts (say 2 to 10 acres) of open land that are not being used for anything, and the change to your tax rate is going to double or triple the amount of taxes owed on these properties that are currently generating no income for their owners. So these people are going to do 1 of 3 things : develop this land (and create more sprawl), waste a lot more money sitting on a vacant property, R they're going to stop paying the increased taxes that they can't afford, in which case the property will revert back to the municipality or the county.
    actually in all likelihood.. they would sell the land at a value lower than its actual value to get out from the burden and sell the land to a wealthy conglomerate that could afford to pay the increased taxes until such time that demand for housing would create a profitable situation for developing that land.
    So we should put you down as supporting putting GPS trackers in everyone to "save lives"?
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    Re: Paying school tax on 2nd homes?

    Quote Originally Posted by jaeger19 View Post
    actually in all likelihood.. they would sell the land at a value lower than its actual value to get out from the burden and sell the land to a wealthy conglomerate that could afford to pay the increased taxes until such time that demand for housing would create a profitable situation for developing that land.
    Exactly my point.

    Either that, or they would just stop paying the increased taxes and the property would revert to the county government, at which point there would be no tax being collected on the property. When this happens enough times, everyone else's taxes have to be raised to pay for the decrese in revenue.

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    Re: Paying school tax on 2nd homes?

    Quote Originally Posted by lefty louie View Post
    I/e own a 2nd home we use on weekends and summer vacation, we don't rent it out so there is no possible way of us ever using the school district, yet we pay about 50% of or $3,000 property tax towards the school district.

    It's gotten to the point we're thinking about listing the house and spending that 6K on a summer rental for 6 weeks, we'd still save thousands over the course of a year and not have the headache of homeownership.
    You have gotten the gist of Democrat "magic:"

    Tax the hell out of people who cannot vote you out of office. Its how the politicians get so fitly rich being our "servants."

    Is how administrators of "not-for-profits" make a million bucks a year administering "skool bidness" that can never fail no matter how stupid they are as long as they can tax the hell out of people who neither vote them out nor control their salaries.

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    Re: Paying school tax on 2nd homes?

    Quote Originally Posted by Critter7r View Post
    Exactly my point.

    Either that, or they would just stop paying the increased taxes and the property would revert to the county government, at which point there would be no tax being collected on the property. When this happens enough times, everyone else's taxes have to be raised to pay for the decrese in revenue.

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    Yep..

    there is a contradiction here. On one hand Geoist argues that the LVT will discourage speculation (allowing land to lie idle), because a higher LVT would incentivize using that land to its higher potential.

    then in the next sentence.. he states that the land value will be LOWER.. under LVT.
    So we should put you down as supporting putting GPS trackers in everyone to "save lives"?
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    Re: Paying school tax on 2nd homes?

    Quote Originally Posted by jaeger19 View Post
    Yep..

    there is a contradiction here. On one hand Geoist argues that the LVT will discourage speculation (allowing land to lie idle), because a higher LVT would incentivize using that land to its higher potential.

    then in the next sentence.. he states that the land value will be LOWER.. under LVT.
    Our current property tax system has a low enough tax rate so that speculators can sit on a lot for years. A high enough LVT would discourage that practice. LVT may initially lead to lower land values as speculators unload their properties to the market, but I'd imagine the values would go back up as demand increases.
    "Men did not make the earth ... it is the value of the improvement only, and not the earth itself, that is individual property... Every proprietor owes to the community a ground rent for the land which he holds." -- Thomas Paine, Agrarian Justice
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    Re: Paying school tax on 2nd homes?

    Quote Originally Posted by jaeger19 View Post
    Please explain exactly how you are assessing the value of these semi-rural tracts of open land. (with development slowing coming closer)

    Currently they would be assessed a low value because they are unimproved. Explain how their value would decrease further under a LVT...
    They would be assessed same as they are now. The only difference would be in what is taxed. Yes, they are assessed at a lower value than suburban/urban land. That is because the demand is much lower.

    Curbing sprawl would mean less encroachment on farmland which means small farmers keep their farms. Don't see how anyone can be against that.
    "Men did not make the earth ... it is the value of the improvement only, and not the earth itself, that is individual property... Every proprietor owes to the community a ground rent for the land which he holds." -- Thomas Paine, Agrarian Justice
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    Re: Paying school tax on 2nd homes?

    Quote Originally Posted by jaeger19 View Post
    No.. there was no current tax incentive to move to the country. In my example.. both vacant land was valued at 100,000 and both were taxed exactly the same. 5,000. there was no incentive to move to the country based on taxes. that's because the tax system is the same.
    I've already explained this to you yet it obviously has not sunk in. You can own more land at $100K in the country than you can own at $100K in the city. If I could own the same kind of house and number of acres in the outskirts as I could closer to the city, and pay fewer taxes then I would be strongly tempted to move. Removing the tax on improvements encourages businesses and homeowners to stay closer to the city.
    "Men did not make the earth ... it is the value of the improvement only, and not the earth itself, that is individual property... Every proprietor owes to the community a ground rent for the land which he holds." -- Thomas Paine, Agrarian Justice
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    Re: Paying school tax on 2nd homes?

    Quote Originally Posted by jimbo View Post
    No it's not. The last bust was created by the belief that everybody deserves home ownership. That coupled with new lowered down payments, credit requirements, lower interest, and lower overall piti payments led to the crisis.
    Everything you mentioned is connected to speculation.

    "Men did not make the earth ... it is the value of the improvement only, and not the earth itself, that is individual property... Every proprietor owes to the community a ground rent for the land which he holds." -- Thomas Paine, Agrarian Justice
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    Re: Paying school tax on 2nd homes?

    Quote Originally Posted by Critter7r View Post
    instead of being based on the value of the property including the improvements, it changes to where it is split equally per square unit of measurement, then the tax burden goes down on the neighborhoods, and up on the vacant lands.
    LVT is not split equally per sq unit. For example, a square unit of an oil field is far more valuable than a square unit of rocky soil.


    The owners of improved properties would see their taxes cut in half, because they own relatively small parcels, and the owners of a 10-acre field just outside of town would see their taxes increase pretty dramatically.
    Owners of large vacant land would bear a bigger burden, generally, which is exactly the point of the tax. It is far more fair as the business-owner contributes more to society than the speculator who sits on his/her site for years.
    "Men did not make the earth ... it is the value of the improvement only, and not the earth itself, that is individual property... Every proprietor owes to the community a ground rent for the land which he holds." -- Thomas Paine, Agrarian Justice
    http://www.wealthandwant.com/

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