Friday, June 30, 2006
A good start...
Municipal property assessment is required to make sure there is a balance between new houses and old houses. The problem was that it was too arbitrary and not incredibly fair (more fair than previous systems).
The fact that it was annual was an issue.
Well, since councils will be elected for four year terms, I think re-assessments should be done once every four years. That gives the assessors lots of time to get it right and lots of time to appeal. From a council point of view, we will know what assessment we have to work from for budgeting purposes.
Market value is the best we have right now to keep the system balanced. Ultimately, I would like to see residential property taxes eliminated and replaced with a better tax system. It would probably have to be linked to the income tax system and allocated proportionately on a per capita basis. But I don't think any politician has the courage to change this (except me and it will be a while before I am premier :-)
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