If they made property taxes proportional to income this wouldn’t be that much of a problem for most people. Currently lower income families spend 10% of their income on property taxes and higher income families spend 2%. Raising property taxes without fixing that is not good. I’m not an economist so I don’t know the best way to do it but I’m sure someone could figure it out.
If they made property taxes proportional to income this wouldn’t be that much of a problem for most people. Currently lower income families spend 10% of their income on property taxes and higher income families spend 2%. Raising property taxes without fixing that is not good. I’m not an economist so I don’t know the best way to do it but I’m sure someone could figure it out.
Source for my numbers: https://www150.statcan.gc.ca/n1/pub/75-001-x/10305/7796-eng.pdf