SF homeowners: “My house is worth $1.5m but it’s paper wealth, doesn’t mean I’m rich or should pay more taxes.” Me: “Ok I guess you’ll be fine then with this plan that might modestly lower paper home values to make housing more affordable.” SF owners: [rage, pitchforks, etc.]
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I still do not think the position of the person in the original tweet is surprising. If you have high wealth but a relatively low income, I can't see why you should be happy to have this taken from you.
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There are income taxes. There are also property taxes.
End of conversation
New conversation -
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Property tax is essentially the same as council tax. It finds local services and like council tax is based on property value.
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*funds
End of conversation
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