I personally believe there should be zero taxes on property. I am sure there are reasonable in-betweens, like possibly having property tax until the mortgage is paid off. But, I think property taxes should be illegal. Taxation can take place in other ways without risk of losing one's property.
Love, e
That would depend where you bought the home - land is completely fixed unlike other things that are traded, and the real estate market is not voluntary (unless you happen to live in space or become a vagrant). However, for the vast bulk of people, land value tax would reduce their tax liability and wages would soar from the increased labour demand (via commercial development of previously unused sites), again benefitting the bulk of the populace.
Not everyone has the luxury of being a homeowner. People on the lower end of the income scale who rent would still be paying indirectly, but their landlords would not be able to capture publically created value by sitting there nothing. That, and the lack of wage\sales taxes would prevent them paying twice over for things such as infrastructure. Only by improving the site would a landlord be able to levy a higher charge.
We could suggest taxes on other monopolies, such as the radio spectrum as well (I believe Ralph Nader favours such a policy).
