Why Personal Property Tax Is So Unfair

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(No Transcript)
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Why Personal Property Tax Is So Unfair
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Property Taxes In General

• If youre not from the United States, you might
  be shocked to learn that many states have an
  annual personal property tax also known as
  vehicle tax, that every vehicle owner must pay.
  This may seem fair on the surface, but in
  reality, its incredibly unfair, and heres why.

personal property taxes are a thing of the past.
However, for those who live in states with
personal property taxes, they can be a real pain.
Personal property taxes are based on the value of
your household goods and belongings that you own
and that you use every day. These items include
your car and your furniture, but also less common
objects like jewelry and sporting equipment. The
rate varies from state to state. There are
typically two different ways in which you can go
about paying these taxes. You can either pay
upfront when something is assessed or wait until
the end of the year when it comes time to file
your annual return.
Explanation Of How The System Works
When it comes down to it, the only people who pay
taxes are individuals. Corporations can sell
their assets and avoid paying any taxes, but you
and I cant do that.
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The Truth About Who Pays The Taxes

• Theres a lot of talk about how tax breaks for
  corporations will help the economy, but in
  reality, what theyll do is incentivize companies
  to move their operations abroad where they dont
  have to worry about being taxed at all. Personal
  property tax isnt just unfair because its an
  unpleasant thing to pay you to have to pay it
  even if youre not making any money from your
  business. That means that if youre a starving
  artist or someone who has a small business that
  fails after a while then you still have to keep
  paying this onerous fee every year no matter what.

The truth of the matter is that most people dont
pay taxes. The average family pays less than of
their income in taxes. They only have to pay a
little more if theyre wealthy, but then its
considered fair because they have a lot of money
and can afford to give up some of it. However,
its not fair when you think about what the
government does with your money. For example,
imagine that youre walking down the street on a
sunny day and you see a homeless man sleeping on
the sidewalk. You know he doesnt have anything
since he doesnt have any shelter or food, but
you still pass by him without giving him anything
because youve spent all your money on things
like rent and food for yourself and your family.
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The Truth About Who Benefits From The Services
Funded By Property Taxes

• The problem with these taxes is that they
  unfairly burden homeowners. The services funded
  by these taxes, like fire and police protection,
  are inextricably linked to homes. Homeowners are
  forced to pay for a service they may never need,
  while renters may not have the same connection to
  them. This creates an unfair system where people
  who live in expensive homes are paying more than
  their fair share, while people in cheaper homes
  pay less. And even if you live in a
  rent-controlled apartment or home with low taxes,
  youre still indirectly contributing because your
  landlord has to pass those costs on to you.

A Call To Action
The idea of having to pay taxes on your property
that you paid for and own can seem like a slap in
the face. Weve all worked hard to afford what we
have. So why should we have to give up even more
of our hard-earned money just because some guy
says we should? Its not fair, and it needs to
change. We need a change in legislation that
would exempt personal property from taxation.
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Contact Us

• Address - 7220 N. LINDBERGH BLVD. SUITE 170
  HAZELWOOD, MO 63042
• Phone - [phone]
• Email - support_at_dtkfinancialgroup.net
• Website - https//dtkfinancialgroup.net/
• Blog - https//dtkfinancialgroup.net/why-personal-
  property-tax-is-so-unfair/