I was talking to a farmer in South-Central Nebraska. It seems that a company owned by Bill Gates had just bought dry land farmland at $5500 an acre (for cash). The land normally sells for about $3200 an acre. Assuming that an almost doubling the value of the land in a single transaction would have a commensurate affect on property taxes, would this be destabilizing to small and medium farmers?
Do you realize local investment firms are already doing this because people cannot pay the high property taxes? Do you realize religious groups are also buying land which takes the property off the property tax rolls pushing up the property taxes of others?
Yes. I was putting a name to one instance, but it is widespread. It is little different from large investment companies buying up single-family residential properties and then blowing up housing prices and rents. The purpose is to drive the small owner/investor out in favor of large corporations.
What effect does moving the tax burden from property to other sources of revenue have on all that? Does it support big investors even further? For example, something a small farmer cannot do is purchase a $100,000 tractor in Kansas and then truck it into Central Nebraska. Large corporations can. How do you prevent them from getting a complete free ride?
I was talking to a farmer in South-Central Nebraska. It seems that a company owned by Bill Gates had just bought dry land farmland at $5500 an acre (for cash). The land normally sells for about $3200 an acre. Assuming that an almost doubling the value of the land in a single transaction would have a commensurate affect on property taxes, would this be destabilizing to small and medium farmers?
Do you realize local investment firms are already doing this because people cannot pay the high property taxes? Do you realize religious groups are also buying land which takes the property off the property tax rolls pushing up the property taxes of others?
Yes. I was putting a name to one instance, but it is widespread. It is little different from large investment companies buying up single-family residential properties and then blowing up housing prices and rents. The purpose is to drive the small owner/investor out in favor of large corporations.
What effect does moving the tax burden from property to other sources of revenue have on all that? Does it support big investors even further? For example, something a small farmer cannot do is purchase a $100,000 tractor in Kansas and then truck it into Central Nebraska. Large corporations can. How do you prevent them from getting a complete free ride?
By removing the property taxes, the owner has the ability to keep and maintain the property.
I hope that he's able to make real headway on this issue before November. We're headed for hyper-inflation due to the national debt.