BuzzH
Well-known member
You aren't much older than me, but thanks for paying taxes the last year I was in high school and the first year you had a job.
Oh, and yes, I even watch fireworks.
This is your property classification and appraisal notice
- Thread starter Unlucky
- Start date
Oh, and yes, I even watch fireworks.
Enjoy. Both. mtmuley
DouglasR
Well-known member
Him, wllm and RW share a somber toast to the Lakota.
Not me I spent most of my years in pubic school because someone kept stealing the L. Was top ten in my class. I just usually leave out the part that there was 10 in my class total
I never took it but I laughed every time it was gone. I finished top 4 of my class a couple years ahead of you it was a much bigger and competitive class of 13.
I went to school in Stevensville. Started in Lone Rock when it was a combined class curriculum. Not many folks can say that. And my Dad paid his taxes. mtmuley
3rd-4th and 5th-6th were combined when I went
We got shipped off to Stevi at 7th grade. mtmuley
I believe there is a proper kindergarten through junior high school out there now. Times change. mtmuley
That’s a “progressive” vs “regressive” tax question if you want to google into the pros and cons of each a bit further.
In a nutshell, regressive taxes, ie a high sales tax but no income tax, is quite detrimental to lower income people.
Dakotakid
Well-known member
- Joined
- Dec 13, 2014
- Messages
- 798
I didn’t read all 9 pages, sorry if this has been sorted out. But the number of mills accessed last year is immaterial to the mill rate this year.
Hem
Well-known member
Yes, probably so.
That’s interesting. I always assumed a sales tax instead of an income tax would be better for low income people because your food isn’t taxed so if you are only buying your essentials you should have more in your pocket.
Some states still tax food and other essentials. One I’m familiar with is TN. They have a very regressive tax structure and have a 4% sales tax on items such as baby food and vegetables. It goes up to 7% for some other food items, and up to 9.25% for other goods. No income tax, but they do get their cut in other ways. Another I’m familiar with are the counties that make up NYC. A place that has super high taxes across the board. However, they give some allowances for basics. Unprepared food is not taxed, nor are clothes under $110. Think of a growing kid or something, as long as parents aren’t buying extravagant shoes, clothes, winter coats, etc, they get a break.
All in all there’s a lot more “essentials” than just food, and folks in high sales tax states have to pay the same cut on those items if they make $25k or $25m. That’s sort of the rub against a flat tax too, 25% of someone’s income is going to make a much larger dent on a poorer household than a wealthy one.
Of course, depending on how one looks at things you can find pros and cons to either side. I personally think the lack of a sales tax is pretty fair, which is probably obvious in what I wrote above.
I try to limit my link posting on here to conservation and hunting topics, but there’s good, objective writeups on Investopedia about the advantages and disadvantages of different tax structures. Tax Foundation is a non-partisan group with some good explanations as well.
Then again, I’m a bit of a nerd and enjoy reading about and discussing econ related issues.
RobG
Well-known member
Here's an example of sales tax vs a progressive income tax.
Case 1: 5% sales tax:
Suppose you spend $10,000/year on essential taxable items, (or worse, $30,000 on a car). $500 is a really big deal to someone living paycheck to paycheck. They are going to have to give up food, or something essential. On the other hand, it won't affect a high-income person's situation as they have excess money beyond that needed for essentials. In fact, they have enough money to avoid the tax altogether by investing or spending it elsewhere. This is why Gianforte pushed for a sales tax until Montanans pushed back.
Case 2: A progressive income tax.
The person that is living paycheck to paycheck is in a low or 0% tax bracket and would pay little or nothing, so it wouldn't affect their ability to buy essentials. While the high-income person pays more, it isn't enough to prevent them from buying essentials. It is also harder for them to avoid the tax by investing
The same arguments apply to a flat tax vs progressive tax. Property tax is somewhat flat and also passed onto renters. By the way, the MT session before last flattened the MT income tax, raising the rate on low income earners and lowering it on high income earners.
Case 1: 5% sales tax:
Suppose you spend $10,000/year on essential taxable items, (or worse, $30,000 on a car). $500 is a really big deal to someone living paycheck to paycheck. They are going to have to give up food, or something essential. On the other hand, it won't affect a high-income person's situation as they have excess money beyond that needed for essentials. In fact, they have enough money to avoid the tax altogether by investing or spending it elsewhere. This is why Gianforte pushed for a sales tax until Montanans pushed back.
Case 2: A progressive income tax.
The person that is living paycheck to paycheck is in a low or 0% tax bracket and would pay little or nothing, so it wouldn't affect their ability to buy essentials. While the high-income person pays more, it isn't enough to prevent them from buying essentials. It is also harder for them to avoid the tax by investing
The same arguments apply to a flat tax vs progressive tax. Property tax is somewhat flat and also passed onto renters. By the way, the MT session before last flattened the MT income tax, raising the rate on low income earners and lowering it on high income earners.
Laelkhunter
Well-known member
You guys are lucky you aren't required to buy flood insurance. We have to have it here if the house is financed, so the lienholder is protected against flood damage to the house. Those prices have doubled in the last two years. A policy that cost $550 two years ago is now $1400. That is if you renew your existing policy. If you are getting a new policy, the same flood zone that was $550 is now $3500. That adds $300 a month to your house note (for Escrow) just for flood insurance, not counting the Homeowner's Insurance that has increased an average of 12 to 15%.
TheGrayRider
Well-known member
Laelkhunter, the insurance market in Louisiana is a lost cause. Many impoverished homeowners South of Interstate 10 pay more for their insurance than they pay on the monthly mortgage. Unbelievable and unfeasible over the long term. Happy hunting, TheGrayRider.
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SAJ-99
Well-known member
I wonder why that happen?
Higher cost of rebuilding maybe? Higher chance of extreme weather events?BuzzH
Well-known member
FEMAI wonder why that happen?
