Unintended consequence? People buy homes based on no sales tax. They bring it

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Jun 5, 2023
11:12:23pm

JAGA97 All-American

back in a few years and people can't afford the payment.

I like the idea but don't trust them to not bring it back.

This message has been modified

Originally posted on Jun 5, 2023 at 11:12:23pm

Message modified by JAGA97 on Jun 5, 2023 at 11:13:20pm

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JAGA97

Bio page: JAGA97
Joined: Apr 10, 2008
Last login: Apr 24, 2024
Total posts: 23,471 (14 FO)

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Messages

Author

Time

If Texas actually does this….

maxpowers

6/5/23 10:53pm

Pipe dream. Never gonna happen.

Tare

6/5/23 10:55pm

Texas: The most populous state in two years

Borg

6/5/23 10:55pm

That would be wild. Is that a libertarian position?

Great38

6/5/23 10:56pm

As a libertarian, property tax IMO is the most heinous form of taxation. In practice, it makes all property owners mere

Samsonite

6/5/23 11:00pm

A soap box upon which I regularly stand…

seacougar

6/5/23 11:46pm

Morse laughing means you’re on the right track.

Yucatan

6/6/23 12:13am

My complaint is that it's like taxing investors on unrealized stock market gains

Great38

6/6/23 12:40am

And then taxing again once realized

SoBlueitHurts

6/6/23 6:50pm

Exactly

Great38

6/6/23 7:57pm

What's a better form of taxation?

Jingleheimer

6/6/23 4:04am

ownership means residence. Residence means public works and

MormonThug

6/6/23 5:23am

Vat tax everyone and I mean everyone pays

BYU Grounds

6/6/23 5:39am

Everyone pays but doesn't benefit. If you have a home in a community the value of that home is directly reflective of

unctoothman

6/6/23 6:09am

Yeah, it's a tough thing.

Courtimedes

6/6/23 6:42am

Renters pay property tax too...

Jingleheimer

6/6/23 7:39am

I'm an advocate of sales taxes carrying it all. EVERYONE is a consumer, so we

Penske Material

6/6/23 8:11am

You have to exempt certain items from a sales tax or it puts undue burden on the

Kajdin

6/6/23 9:55am

I'm going to say inheritance tax is the worst.

coolblue

6/6/23 7:01am

Inheritance taxes are terrible for many reasons...but few actually pay them.

Jingleheimer

6/6/23 7:46am

Property taxes suck. We have lived in our current home since 2015. Our taxes will have almost doubled in that time.

Colorado

6/5/23 10:56pm

Where will they get their money? It has to come from somewhere.

rivercitycoug

6/5/23 10:59pm

Other taxes, notably sales tax.

BrighamJung

6/5/23 11:06pm

Property tax is ~51% of all tax revenue in Texas ($70B+). That’s going to be one

rivercitycoug

6/5/23 11:24pm

Yeah, there’s no way they do it unless they come back with an income tax.

Virginia Ute

6/5/23 11:25pm

It is happening in my town in GA. Piece by piece. Sales and usage taxes increas

Nat Gas Man

6/5/23 11:27pm

^THIS. EVERYONE'S a consumer. If it's true that approx 51% of Texas' tax revenue

Penske Material

6/6/23 8:14am

Becquetté the rich own property

AxelDC

6/9/23 4:46am

So a 20% sales tax, paid mostly by the poor

AxelDC

6/9/23 4:45am

This is the question.

paulb

6/5/23 11:06pm

Downsize Government workforce and positions that are not needed.

Ode to Hoy

6/5/23 11:47pm

Eliminating federal IRS jobs won’t do a thing for lost property tax revenue

rivercitycoug

6/6/23 7:11am

Put a tax on stupid people, like Nevada does.

RealityCheck

6/6/23 7:44am

They don’t even need to do that, just lower them to normal level so they’re not so ridiculous

JOPE

6/5/23 11:00pm

God bless Texas. All taxes are theft but property tax is the theftiest of them

IceCreamButt

6/5/23 11:01pm

Worse than income taxes?

Penske Material

6/6/23 8:15am

Enjoy the Californians lol

letthewookieewin

6/5/23 11:04pm

Property values would sky rocket.

JuicyJam

6/5/23 11:08pm

This. Investors and retirees would flock to Texas

astroman

6/6/23 6:27am

Unintended consequence? People buy homes based on no sales tax. They bring it

JAGA97

6/5/23 11:12pm

My graduate thesis class was on property tax. Imagine spending 16 weeks studying

Nat Gas Man

6/5/23 11:16pm

This is not responsible

dixieutahbyuzag

6/5/23 11:30pm

I don’t think this will get rid of all property taxes, as it says “homeowners”

kierdan

6/6/23 6:43am

Texas has really high property taxes (due to their lack of income tax). Doing this would mean sales tax would go way up

krindorr

6/6/23 9:53am

About $73B in property taxes and only $42B or so in sales taxes at 6.25%. So yes

Nat Gas Man

6/6/23 10:03am

Then how do they pay for schools?

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