“I’ve heard that the total value of all the houses in America is about $30 trillion.”
Think of all the rental income (eg real estate taxes aka vigorish) the criminal governments get from that.
“I’ve heard that the total value of all the houses in America is about $30 trillion.”
Think of all the rental income (eg real estate taxes aka vigorish) the criminal governments get from that.
Property tax rates vary around the country, as well as assessed values for tax purposes, which can be very different from the market value of a property.
But at an average tax rate of 1% of the market value of a property, $30 trillion in property would yield about $300 billion in property tax revenue.
And these are just homes, which in turn are just one part of all residential property. This is not including property taxes paid on all the commercial and industrial and agricultural property in this country.
This makes me think, that all of us could use a full accounting of all the different types of taxes we pay, where it’s going, and what it is being spent on. I’m sure such documentation would be quite an eye opener.