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Every Thing Else Board
Caustic was right....
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<blockquote data-quote="Douglas" data-source="post: 796331" data-attributes="member: 8840"><p>I can appreciate the theory of the intangables tax. Your property (land, house) get taxed based on its value. If you sell your land and buy stocks you just change from a physical asset to an paper one. Why should not a wealthy investor pay some local property taxes as well.</p><p></p><p>Here in North Carolina we eliminated the intangables tax years ago, but when we had it the money went back to local governments. In theory it kept down property tax rates.</p><p></p><p>a hundred years ago ones wealth could be fairly measured by how much land you owned. Now not so much. I think local government need to look for other sources of revenue and not always the property owner.</p></blockquote><p></p>
[QUOTE="Douglas, post: 796331, member: 8840"] I can appreciate the theory of the intangables tax. Your property (land, house) get taxed based on its value. If you sell your land and buy stocks you just change from a physical asset to an paper one. Why should not a wealthy investor pay some local property taxes as well. Here in North Carolina we eliminated the intangables tax years ago, but when we had it the money went back to local governments. In theory it kept down property tax rates. a hundred years ago ones wealth could be fairly measured by how much land you owned. Now not so much. I think local government need to look for other sources of revenue and not always the property owner. [/QUOTE]
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Caustic was right....
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