Want to see how America is changing? Property taxes hold the answer – MarketWatch

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Andrew Szakmary
6 years ago

The Laffer curve could conceivably apply to income taxes (albeit evidence that this has happened anywhere in the U.S. is not compelling). But I don’t think it could possibly apply to property taxes, even theoretically. The reason is that the property cannot readily be moved out of state. So if the homeowner leaves, he sells the house to someone else who must continue to pay the tax. The market value of the home may fall to reflect the high tax burden, so the incidence of the tax falls on the leaving homeowner who, for decades, voted for politicians that promised… Read more »

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“We are not in good shape” Wirepoints’ Ted Dabrowski told ABC 20 Champaign during a segment on Illinois’ latest population losses. Illinois was one of just three states to shrink in the 2010-2020 period and has lost another 300,000 people since then. Ted says things need to change. “It’s too expensive to live here, there aren’t enough good jobs and nobody trusts the government anymore. There’s just other places to go where you can be more satisfied.”

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