By: Diane Benjamin
I’ve been looking at property tax bills since Friday. The results will be printed tomorrow, I want time to review it one last time.
Meanwhile, these two links will give you a preview. Both are also in tomorrow’s story:
https://www.zerohedge.com/economics/why-property-tax-illegal
https://constructioncoverage.com/research/average-property-tax-by-state-county-city
Wow two very interesting web links. Illinois is all over in the first web link. I knew IL taxes were high but I never knew it ranked that high.
The second link is even more interesting. Taxed on unrealized gains I have to agree 100% on. Which is what they do. Tax you on what they think your property is worth. I can’t remember didn’t SCOTUS in one court case agree with a couple that they couldn’t be taxed on unrealized gains on stocks?
If you find it send it to me!
Below is what google retunred when I searched. I couldn’t remember what SCOTUS ruled. So apparently the 16th Amendment that the second web link talks about is the question.
The U.S. Supreme Court, in a 2024 case, declined to overturn a law taxing unrealized capital gains from foreign companies held by American shareholders, upholding Congress’s authority to tax such gains. This ruling primarily focused on the Mandatory Repatriation Tax (MRT), which requires American shareholders of foreign corporations to pay taxes on the unrealized gains of those companies. The Court’s decision didn’t directly address the broader question of whether the 16th Amendment allows for the taxation of unrealized gains in general, but it did uphold the government’s argument that the MRT is consistent with existing tax provisions.
we got ours Friday. they went up $150.00