Want this question answered?
Be notified when an answer is posted
If it increases the value of your home, yes. If not, no.
to raise property taxes makes the possibility of loosing your property greater, schools will be spending more on materials and smaller classroom could mean better learning environment
No. Property taxes do not change when home value decreases. You need to go to the tax collectors office or equivalent and have the value of your property assessment decreased. The government is quick to raise it. The government is in no hurry to decrease it and have you pay lower taxes.
AnswerThrough excise taxes (taxes on businesses), import/export taxes, transaction taxes (taxes on property transfers), sales taxes, property taxes, etc. etc. The government has taxed pretty much everything throughout its time. Heck, they even tax your property when you die (estate taxes).
Actually inheritance (if any) taxes were handled when you received the property. That point in time establishes your basis in owning the property. What you sell it for above that value essentially decides what your taxable gain will be.
"to raise taxes" is an infinitive phrase. It is used as a noun-object of the verb "wanted" in this sentences.
It is property "seized" by the government for non-payment of taxes or in satisfaction of a tax lien. It can either be converted to government use or sold at auction to raise revenue.
Property taxes
Property Taxes
raise taxes
No they raise money on taxes
Property taxes are taxes on the value of owned property. Sometimes they are classified as either specific or ad. Property Specific taxes are of a fixed amount based on a number, or standard of weight or measurement. Ad property taxes are based on a fixed proportion of the value of the property with respect to which the tax is assessed.