Ron Warrick
Ron Warrick asked:

How do US homeowners feel about paying about 2% in annual property taxes on the value a house they may actually owe money on, while someone who owns millions in securities pays no property tax on it, and even passes it on to heirs tax free? I realize mortgage interest and property tax is tax deductible, but the deductions never came close to covering my property taxes.

Scott Rich Williams is incorrect. Piketty proposes the wealth tax instead of the property tax (although in addition to other taxes), because real estate property would be included within the wealth tax.
Sunil According to Piketty, it would be reducing property taxes on people with less net wealth, because of large debts, and raising it on the people with more net wealth.
Rich Williams A few things to keep in mind:
1) Piketty proposes a wealth tax in ADDITION to property and income taxes so don't expect to pay less taxes

2) Property taxes fund local schools, police, fire, sewer and other public services. Even though you only put 5% down on your house, you are consuming the same services as your neighbor who owes less on their house.

3) Your house probably also passes on to your heirs tax free (unless it's a very big house)

4) Most importantly, if the holder of the loan or bond that financed your mortgage is paying a wealth tax on the money they loaned you, they will demand a higher interest rate to cover it. Piketty doesn't mention this at all and I think it would make houses even more unaffordable for many people.
Marktebifox Generally, local governments in the United States impose a property tax, additionally known as a millage rate, as a main source of revenue. This tax applies to real estate or personal property. The property tax usually produces the required revenue for municipalities' tax levies. If you need more information you can visit the site: https://planetaryaccountingandmarketi...
Marktebifox Generally, local governments in the United States impose a property tax, additionally known as a millage rate, as a main source of revenue. This tax applies to real estate or personal property. The property tax usually produces the required revenue for municipalities' tax levies. If you need to more information you can visit the site: https://planetaryaccountingandmarketi...
James I like the idea of a capital tax based on the value of what you actually own, though since my condo is paid for, it wouldn't change the calculation of my tax rate.
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