Beware the ides of tax reform

Submitted by Bob and Linda Graff
Posted 10/10/24

Dear editor:

This is in response to “Tax reform is on November ballot” in the Oct. 3 edition of the Powell Tribune. This “tax reform,” Constitutional Amendment A, is …

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Beware the ides of tax reform

Posted

Dear editor:

This is in response to “Tax reform is on November ballot” in the Oct. 3 edition of the Powell Tribune. This “tax reform,” Constitutional Amendment A, is a disappointing and half-hearted attempt by our legislators for property tax relief. Out of the several proposals considered, this is the best that they can do? There are a couple of immutable facts:  ALWAYS beware of the words “tax reform,” and government has an insatiable appetite for YOUR money. A proposal which had some merit was to roll back assessments to some prior time and allow only a limited maximum increase per year. The Biden/Harris administration has proposed a tax on unrealized gains on assets, a frightening possibility. Property tax, as structured, is exactly the same thing — a tax on the increasing value of your home and property. If your income doesn’t escalate at the rate of appreciation, you must sell assets or lose the property.

Probably the fairest tax to replace property tax would be a consumption tax (sales tax).  Everyone would pay: illegal immigrants, tourists, nonworking malingerers, et al. Someone had done a study showing a 2% addition to the current 4%, structured correctly, would sustain government. Set emotions aside and run the numbers and we would likely pay less in tax. Something to think about; there would be no need for the assessor’s office, tax assessments or tax liens, and no opportunity for government to seize your hard earned property.

At the end of the day, Constitutional Amendment A needs a resounding NO vote.

Bob and Linda Graff

Powell

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