I am very interested in her stance on replacing property tax with a sales tax. Aparently those who don’t own any property and simply rent don’t realize it’s their pocket book she’s aiming to dip into.
“Aparently those who don’t own any property and simply rent don’t realize it’s their pocket book she’s aiming to dip into.”
Rent incorporates real estate tax by necessity.
And such indirect tax is not tax deductable at the federal level, whereas Texas sales tax is deductable on your return.
So, no, this would actually help renters.
Renters pay taxes through their rent money. The property owner doesn’t absored that tax from his profits. They pay taxes, insurance, upkeep, routine maintenace, etc just like if they owned a home and was paying a mortage on it.
She’s trying to float a proposal that is much beyond just the Gov. to able to accomplish. To even come close it will need the support of the legislature, all the individual taxing districts statewide and in each of the 254 counties. What she proposes maybe good but it’s far from an easy chore to accomplish.