The rich are never going to get heavily taxed. Its just a smokescreen to placate the sheep. While their pockets get drained.
New York City’s Proposed 9.5% Real Estate Tax Hike Hits A National Nerve
Home prices nationwide are up 55% over the past five years, stirring up widespread anxiety about rising assessments and real estate taxes. Here’s what you need to know.
www.forbes.com
According to the Tax Foundation, in fiscal year 2022,
property taxes accounted for 27.4% of total state and local tax collections in the United States—more than any other category of tax revenue. Local governments rely even more heavily on them: property taxes accounted for 70.2% of local tax collections in fiscal year 2022.
State and local governments favor property taxes because they provide a relatively steady income stream. The
tax base doesn’t move, and it rarely shrinks significantly. Houses and commercial properties don’t relocate across state lines, and over time, property values tend to rise rather than fall.