Yeah, I agree it’s always harder to define than it seems at first glance. Square footage might be a better proxy with fewer loopholes. Problem is that a shitty rundown house will be taxed the same as a luxury house of the same size. That might be fine, I don’t know.
I think regardless of how you do it, taxes need to be adjusted for inflation or change of average living costs, like any tax brackets could/would. I think one of the goal should be to avoid artificially inflated living costs.
And also regardless of approach, tax limits should probably also depend on how many people live in the house. That can probably be abused too though.
Either way, I don’t know much about economy and taxes, this is just me thinking out loud on a complex topic.
Yeah, I agree it’s always harder to define than it seems at first glance. Square footage might be a better proxy with fewer loopholes. Problem is that a shitty rundown house will be taxed the same as a luxury house of the same size. That might be fine, I don’t know.
I think regardless of how you do it, taxes need to be adjusted for inflation or change of average living costs, like any tax brackets could/would. I think one of the goal should be to avoid artificially inflated living costs.
And also regardless of approach, tax limits should probably also depend on how many people live in the house. That can probably be abused too though.
Either way, I don’t know much about economy and taxes, this is just me thinking out loud on a complex topic.