Who will really pay
It’s not often I agree with Mike DeWine, but eliminating property tax is an awful idea.
Eliminating property tax doesn’t mean that you pay less in taxes; in fact, it’s likely if you are working class you are going to pay more taxes.The state is still going to have the same outgoing and incoming funds to make our essential services function, they would just be changing where those funds come from.People who are wealthy can collect their revenue in options other than a paycheck — for example, stock options — in order reduce income on paper. However, those wealthy individuals still live in a home, and likely a home with a high property value, thus high property tax.
By eliminating a property tax and increasing income or sales tax, all that would do is shift the burden to people who live in less affluent neighborhoods and make their primary living from a weekly paycheck.In the end, there are only two groups of people that would benefit from the elimination of property taxes: retirees on a fixed income and the incredibly wealthy. If something sounds too good to be true, it probably is.A better option might be to help create exemptions for seniors under a certain income threshold rather than completely shift the entire burden to the working class…