Trump’s Plan to Fix Property Taxes

Property taxes are supposed to be based on what your home is actually worth. But in many places, local governments are inflating home values on paper, forcing homeowners to pay higher taxes—sometimes much higher than what’s fair. This means people are getting taxed on money they haven’t actually made because they haven’t sold their home.

Trump wants to change that. He’s talking about getting rid of unfair property taxes altogether and replacing them with a system that doesn’t punish homeowners for just owning a house. The idea is to stop local governments from using tricks to overvalue homes and squeeze extra tax money out of people. Instead of taxing unrealized gains (theoretical profits on paper), he suggests a national sales tax as a fairer alternative.

The problem is that many tax assessors use shady tactics to justify higher home values. They compare properties unfairly, use misleading data, and ignore actual market trends. This forces homeowners to pay more in taxes than they should. If this system isn’t fixed, it could make home ownership more expensive for everyone, leading to fewer people being able to afford homes.

The impact of inflated property taxes goes beyond just homeowners. When taxes go up based on fake numbers, it can slow down the real estate market, making it harder to buy and sell homes. It can even affect retirement accounts and investments tied to real estate.

Trump’s proposed fix is simple: stop local governments from playing games with property values and move toward a tax system that’s more transparent and fair. If his plan were put in place, people could keep more of their money instead of losing it to artificially high property taxes.

In summary, the goal is to make sure people only pay taxes on real income, not inflated estimates. If these changes happen, it could put more money back into homeowners’ pockets and make the real estate market more stable for everyone.

Source Inspiration: ZeroHedge