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‘My Property Tax Went From $15K to a Life-Altering $91K a Year’
(www.yahoo.com)
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this post was submitted on 15 May 2025
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If it costs $90k for a $4 million home then a $1 million home would be taxed at $22.5k. That's still half a years salary at median wages for an average priced home in many markets. Don't let your hatred for rich people lead you to advocating for shitty policies.
I'm going with this is the actual problem.
Also, your math assumes a flat tax rate, and any decent tax system is progressive. I don't know how Florida's works, but again, actual problems.
Inflated home values are a huge part of the problem. That's a large part of the point I'm making. At face value it seems fine to say "they have a $4 million home, they can afford the property taxes" but if you apply the same rate to the homes that average people have to buy you're going to end up in a shitty spot. If taxing the rich is the goal we shouldn't be talking about property taxes on single family homes unless it's specifically related to second and third homes.
And that's why you don't do that and instead make progressive taxation a thing.
Nah. It is good and correct to tax extremely large/valuable single-family homes at high rates even if they're primary residences.
(Of course, another aspect of the issue is that single-family houses in very high-demand areas should lose their zoning protection so they can be bought out and replaced with multifamily buildings. Reasonably-sized single-family houses should never have gotten to unaffordable valuations in the first place.)