Has any one followed Mitch Vexler on how your property taxes are being used? If your school district has school bonds to pay off, you may be interested in looking up his podcasts on u tube. Is there any comments of the validity of school/property taxes? Would there be more accountability and visibility if there was a tax on sales locally to pay for city functions? How would you like to tax unrealized gains on your 401K, or stock portfolio? 16th amendment says one cannot tax unrealized gains.
That’s a big No ! Governments need to figure out how to be responsible before they come up with more ways to reach into my wallet. Unrealized gains should never be taxable.
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a lawsuit out of Denton County TX states that per 16 amendment of constitution, it is not legal to tax an asset before you sell it. This would make property taxes illegal, and trying to tax a stock prior to sale.
The lawsuit claims that, or a ruling states it? But difference.