Quote:
Originally Posted by zrx299
A perfect example of what's wrong with our current property system.
Does anyone here actually think that car wash's profits rose an extra 229% along with that appraisal (and accompanying tax bill) during the same period? Of course not.
Not anti-development at all, but no business should be taxed out of existence based on paper valuations. It's legalized extortion.
Now If you want to cash out and go home, that's perfectly fine.
Pay taxes on the sale price of your property or business and move on to the next thing.
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My profit from the house I live in is $0. Therefore I shouldn't pay any property taxes, right?
Property tax is not and is not intended to be a profit/income tax.
It's a wealth tax.
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