Vote in the New York City Election

[Razgovory]

Your answer is in Minsky's post directly above yours.

No, he's saying they are undertaxed.  That's not the same thing.  If poorer neighborhood has a property tax of 4% and a richer neighborhood has only 8% and not 10% that's pretty weak evidence of racial discrimination.

[Savonarola]

Your answer is in Minsky's post directly above yours.

No, he's saying they are undertaxed.  That's not the same thing.  If poorer neighborhood has a property tax of 4% and a richer neighborhood has only 8% and not 10% that's pretty weak evidence of racial discrimination.

It's not that the percentage is different, it's that the home valuation, which determines the tax is different. We had something similar in Michigan where the increase in taxable value was limited to the rate of inflation. So my house doubled in value from 2008 to 2018, but I was paying taxes at the 2008 value (adjusted for inflation.) Properties in Detroit that had stagnated in value over the same time period were in effect paying the current value of the property, so my effective rate of taxation was lower. (Once I sold my property the next owner had to pay at the 2018 valuation.)

[Razgovory]

So are the rich white people paying less in taxes then the poor BIPOC or not?

[PJL]

Sounds like a variant of our council taxes here in the UK (well at least England) then, which are based on property prices calculated at early 1990s prices in England. Given that the south has experience bigger property rises than the north since then this has effectively meant that the richer south has benefitted from a suppressed valuation of properties for the council tax more than the poorer north.

[crazy canuck]

Interesting - here property values are assessed every year so we avoid the problem of people getting an inequitable advantage due to outdated valuations.

[Baron von Schtinkenbutt]

Interesting - here property values are assessed every year so we avoid the problem of people getting an inequitable advantage due to outdated valuations.

Many jurisdictions in the US have capped the relative magnitude of the increase.  What the cap is, and how widely it applies, varies greatly.  The worst is probably California's Proposition 13, which limits the tax rate to 1% of assessed value and the per annum increase in assessment to 2%, and it applies to almost all property in California.  In Florida, it's 3% per annum, but only for owner-occupied residences.  Texas is about the same, but since Texas does reassessments tri-annually it's 10% per three years.

Worth noting that the owner-occupied provisions like Florida and Texas have tend to hit renters harder than homeowners, since a landlord needs to pass on the full costs of rising property values to their tenants, while the owner-occupiers are somewhat insulated from it.  This tends to have a disproportionate affect racially as well.

[Zoupa]

So are the rich white people paying less in taxes then the poor BIPOC or not?

I don't understand what you don't understand from the 2 previous posts explaining it to you.

[Admiral Yi]

So are the rich white people paying less in taxes then the poor BIPOC or not?

They are paying a lower rate.

[Razgovory]

So are the rich white people paying less in taxes then the poor BIPOC or not?

I don't understand what you don't understand from the 2 previous posts explaining it to you.

I am genuinely surprised that New Yorkers are so racist.

[Admiral Yi]

A bit weird to say nationalisation is at fault because it failed to fix the failures of private enterprise.

That would be weird if someone had actually said it.