Would You Be In Favor Of Abolishing Property Taxes [Poll]
When you stop and think about it, as long as you pay property taxes, you never really own your home even if you payoff your mortgage. Property taxes have been a huge issue here in Indiana for years. The homestead tax credit has been the subject of many discussions and debates over the last few years and some have called for the elimination of property taxes altogether. California gave homeowners a big break years ago with the passing of Proposition 13. Since then other states have looked at similar relief efforts if not total elimination.
On Tuesday people in North Dakota will have the chance to be heard on something that has never been tried yet, the complete abolishment of property taxes in that state.
Not everyone is on board with the idea however. Opponents of the measure want to know how the state would make up the lost revenue, which in the case of North Dakota, amounts to about $812 million and what kind of trickle-down effect would such a ban cause for taxpayers?
Supporters of the measure argue that property taxes are unpredictable and inconsistent and completely counter to the notion of property ownership.
Ironically, according to recent polls in North Dakota, voters would be overwhelmingly opposed to abolishing property taxes. Although it sounds good on the surface, it leaves far more questions unanswered and does create a tremendous of uncertainty in people's minds.
North Carolina, Texas and Pennsylvania have shown some interest in the idea, but Pennsylvania state representative Jim Cox says, "No tax should have the power to leave you homeless." This will be a hot potato topic in the weeks and months ahead, that is for sure.