The property tax rate where I’m at is 1.7%, and the appraisal districts WAY undervalue properties. A house will sell for 5 million in the city where I work, and their value on the tax roll is $300,000.
I think what limits its effectiveness is mostly that it’s only the NL doing it. If it was EU wide, or even US-wide, the world would change a lot.
Even if it’s not perfect now, I see that it is good that this tax exists for two reasons:
At least it’s not taxing wages or consumption, which affect everyone but billionaires.
It serves as a model for going in that direction, so neolibs can’t easily say there is no way to tax assets, or that taxing assets would crash the economy.
Billionaires in Europe evade taxes just like every other billionaire.
You still pay tax of assets though…
The property tax rate where I’m at is 1.7%, and the appraisal districts WAY undervalue properties. A house will sell for 5 million in the city where I work, and their value on the tax roll is $300,000.
Hahahahaha you’re funny
In the NL you do, there is a wealth tax. IDK how effective it is, but at least they are trying.
It’s effective in getting momey from the wealthier middle class. Like most of the tax related ruling and laws.
I think what limits its effectiveness is mostly that it’s only the NL doing it. If it was EU wide, or even US-wide, the world would change a lot.
Even if it’s not perfect now, I see that it is good that this tax exists for two reasons: