For a number of reasons, I don't like property taxes. I like them even less now that I have read a paper entitled "Constitutionality of Real Property Taxation and Location Incentives, and Some Associated Economic Effects" by Michael Nwogugu, which can be downloaded in PDF format.
The paper is short and well worth the read. Take aways: property taxes violate the Constitution in a number of different ways.
Abstract:
- "This article shows that the present regime of real property taxation and location incentives are inherently unconstitutional. The analysis in this article pertains to US state/local laws/regulations governing tax assessment, tax collection, tax foreclosures and incentives offered to firms to relocate to states (although much of it is applicable in most common law jurisdictions."
HT: TaxProf Blog
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