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View Diary: Cuomo's Property Tax Cap is a terrible idea (26 comments)

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  •  Tax Caps=Whack (1+ / 0-)
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    neroden

    While NY does needs a leader who can sort out the late Roman-Empire style government, a property tax cap always begs the question: what do we tax in its stead?

    Previous writers are all on the mark: California, Indiana, South Carolina, Florida  all force their local governments to spike or drop the property tax. The revenue has to come from somewhere. The "state?"

    Well, that's all of us. Sales taxes or other regressive taxes? They crater first in bad times, when poor people have an even harder time paying them.  Income taxes? sounds delightful, but tax receipts in Cali and New Jersey are disappearing at the top end of the scale.

    If we want government to really work, we need money. Property, especially landed property is a gift that keeps on giving.

    New York towns already have property tax classification and the STAR program, and it hasn't stopped the rot.  

    Reform what we have with a tax on community-created land value, rather than playing to the crowds or chasing away more jobs.

    Find the Power in the Land

    by Joshua911 on Mon May 24, 2010 at 12:59:13 PM PDT

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