Comment by hirako2000

The idea is to tax on income..income gets spent. You earn more and get taxed on "new income".

The concept of taxing what's already taxed has some perverse effects.

I concede though that property tax in the U.S is just a way for local authorities to be able to fund schools, and other municipal infrastructure. It remains odd though that most countries do have local taxes, but summing to a fraction of what a ~1% tax every year may represent. As it's a small percentage but on the most valuable and critical asset one may have sacrificed during his life, to own a roof as primary residence.