According to the April Case Shiller Home price indices released this morning by Dow Jones S&P CoreLogic another of the 20 metro areas tracked - Seattle - fell below the Chicago area in the rankings of year over year single family home price appreciation. This left Chicago 5th from the bottom.
There should be a chart of appreciation (depreciation) of home values to corresponding tax rates and bills. The more the value of your home is the more all the services costs you (schools/police/fire). This in effect is a wealth tax since home values are the largest asset many people have. Stocks prices are not taxed until cashed in and starts at your cost basis. If home values tumble you still have paid higher taxes on the previous higher value for years even though it was an unrealized gain or loss. This is like license plates would cost more for a… Read more »
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
There should be a chart of appreciation (depreciation) of home values to corresponding tax rates and bills. The more the value of your home is the more all the services costs you (schools/police/fire). This in effect is a wealth tax since home values are the largest asset many people have. Stocks prices are not taxed until cashed in and starts at your cost basis. If home values tumble you still have paid higher taxes on the previous higher value for years even though it was an unrealized gain or loss. This is like license plates would cost more for a… Read more »
Will Jabba’s trusts overseas be counted as part of his net worth? Or because they are out of the jurisdiction they are tax free…
what’s good for everyone else doesn’t necessarily apply to rich progressive.