I've been told by a farm friend that the state is about to experience the biggest transfer of farmland in it's history, due to aging farmers and the fact that family don't want to take it over. Besides that you're going to see a mass migration out of the state, because people will be incentivized to sell to the highest bidder.
Epic caters to the rich and yes we can prevent foreigners from buying up our land.
Your common sense is nonsense. What offsets? What are you talking about? Without property taxes people will build swimming pools. The ability to buy a home because there is no property tax to figure in the mortgage. To your final take, the lack of a property tax causes prices to drop.
It's time to get rid of bloated daycare/indoctrination camp budgets, otherwise known as "public education" budgets. Money for education should follow the student and be strictly for education and no extracurricular activities.
Much nmore could be said.
Epic will only drive the cost of real estate through the roof and monopolize land ownership.
"Epic will only drive the cost of real estate through the roof and monopolize land ownership." This statement is false and it will actually result in the opposite. Because of property taxes, monopolization has grown. This is evident of how many TIFs have been granted to apartment developments. If you have more details on this topic and the source, please let me know.
All you're saying is that lower taxes create incentive and demand for the land.
That demand will go through the roof with NO taxes.
Tax free land will draw landlords in from everywhere that will compete for the land and drive prices higher, pushing the middle class out of the market.
Demand determines price. Until government screws it up somehow.
But then, we should have laws against monopolization.
Thank you for the kind and thoughtful response. You ignore the existing property owners. Without property taxes, the owners have substantial reason to keep their property, not sell it as well as incentive to improve it. The number one reason people sell their property is they no longer have the means to maintain it, in large part due to property taxes. In addition, you cannot stop investors whether foreign or domestic from investing in land. By taxing property, the investors have an advantage over the existing property owner.
Robert Borer is to be respected for having an opinion. Please continue to ask the question on Epic when taxes are discussed. Your comment on monopolize land ownership is only relevant because in America we have the chance to personally own land. Let us also value as a new idea the independence to pay tax and decide when to be taxed.
I've been told by a farm friend that the state is about to experience the biggest transfer of farmland in it's history, due to aging farmers and the fact that family don't want to take it over. Besides that you're going to see a mass migration out of the state, because people will be incentivized to sell to the highest bidder.
Epic caters to the rich and yes we can prevent foreigners from buying up our land.
You state "Epic caters to the rich" Why do you believe thiis? Where is your support for this argument as it is false?
Common Sense.
Yes, Epic would help current land owners, assuming the offsets aren't worse (which is the biggest assumption).
But any real estate that goes up for sale is going to go to the highest bidder. Rich people can bid higher than middle class people.
Another problem is that businesses close to thestate border are going to suffer. Why pay higher consumption tax on this side of the border?
Your common sense is nonsense. What offsets? What are you talking about? Without property taxes people will build swimming pools. The ability to buy a home because there is no property tax to figure in the mortgage. To your final take, the lack of a property tax causes prices to drop.
What offsets?? Why the rise in other taxes to make up for the loss of real estate tax. Duh.
Epic proponents don't have any of those offsets worked out.
The other huge problem with Epic is that it centralizes power.
Uh have you not been reading all my articles? I explained this in https://andrewlsullivan.substack.com/p/rich-pahls-on-nebraska-taxes
It's time to get rid of bloated daycare/indoctrination camp budgets, otherwise known as "public education" budgets. Money for education should follow the student and be strictly for education and no extracurricular activities.
Much nmore could be said.
Epic will only drive the cost of real estate through the roof and monopolize land ownership.
"Epic will only drive the cost of real estate through the roof and monopolize land ownership." This statement is false and it will actually result in the opposite. Because of property taxes, monopolization has grown. This is evident of how many TIFs have been granted to apartment developments. If you have more details on this topic and the source, please let me know.
All you're saying is that lower taxes create incentive and demand for the land.
That demand will go through the roof with NO taxes.
Tax free land will draw landlords in from everywhere that will compete for the land and drive prices higher, pushing the middle class out of the market.
Demand determines price. Until government screws it up somehow.
But then, we should have laws against monopolization.
Thank you for the kind and thoughtful response. You ignore the existing property owners. Without property taxes, the owners have substantial reason to keep their property, not sell it as well as incentive to improve it. The number one reason people sell their property is they no longer have the means to maintain it, in large part due to property taxes. In addition, you cannot stop investors whether foreign or domestic from investing in land. By taxing property, the investors have an advantage over the existing property owner.
Robert Borer is to be respected for having an opinion. Please continue to ask the question on Epic when taxes are discussed. Your comment on monopolize land ownership is only relevant because in America we have the chance to personally own land. Let us also value as a new idea the independence to pay tax and decide when to be taxed.