"Because the taxes aren't reasonable. Land is a limited resource."
Taxes seem high to me in my area. Land is a limited resource, but not as limited as you are implying. There is plenty of land in other areas that could be developed. Instead, we have people with a preference for homes in existing areas favoring using the government to force people out.
Your smog example is completely off base and doesn't represent the way the taxes work in many areas outside of California. My taxes go up every year and will eventually be reassessed for additonal increase. However, that assessment goes up based on reasonable evaluation and not on someone potentially targeting you or your property by bidding it up.
"I don't own any property."
I assume you live somewhere. Perhaps you will be forced out when a wealthy company buys up all the rentals and raises rents.
People don’t realize that all property tax levied is paid for … by people.
If you put a $10m/yr property tax on the local Walmart, that money simply comes from slightly higher prices on everything (or most non-nationally advertised things).
Landlords aren’t paying property tax out of the goodness of their hearts, they’re paying them out of the rents, and if they go high enough they’ll either raise rents or sell-abandon the building.
I think the even more hidden thing is that taxes are more about policy than revenue. If it was just about revenue, then they would tax it at the source - income tax on people and companies. But just imagine the reaction people would have when 50% of their paycheck was gone. They even hid the cost of social security and Medicare by making the employer pay half so it doesn't show on the paycheck. Break it up and people don't add it up and you can use it to control their behavior on different subjects.
Taxes seem high to me in my area. Land is a limited resource, but not as limited as you are implying. There is plenty of land in other areas that could be developed. Instead, we have people with a preference for homes in existing areas favoring using the government to force people out.
Your smog example is completely off base and doesn't represent the way the taxes work in many areas outside of California. My taxes go up every year and will eventually be reassessed for additonal increase. However, that assessment goes up based on reasonable evaluation and not on someone potentially targeting you or your property by bidding it up.
"I don't own any property."
I assume you live somewhere. Perhaps you will be forced out when a wealthy company buys up all the rentals and raises rents.