Friday, March 11, 2005
Our Newest Op Ed- By Warner Todd Huston
- By Warner Todd Huston
I am sure that seeing the words "taxes" and "raised" in the same title raises the hackles of every good, tax loathing citizen. But, Illinois State Senator, Chris Lauzen (R., 25th Dist.), not known as a taxaholic himself, has proposed just that. But don't let those hackles quiver just yet for what he is proposing makes quite a bit of sense.
Lauzen contends that constantly raising property taxes is an unfair procedure and wonders why "we tolerate such a system?" His central point, a good one, is that property taxes are raised nearly every year yet homeowners are not getting any benefit at all from the fact the their houses are worth more unless they sell the place. "I know of no other place in the Tax Code, other than property taxes, where unrealized capital gains are taxed", Lauzen has said in a press release.
Senator Lauzen makes an excellent point. Why do we have to pay ever rising taxes on a paper assessment of what our home is worth when we are not in any way benefiting from that supposed value? Naturally, paying when the home is sold is sensible, but why are we forever asked to fork over more money to the state every year when the supposed value of our home is a meaningless factor in our yearly income? It doesn't raise our income and it doesn't detract from our income. Constant raises in our property taxes is patently unfair, it's just that simple...........
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