Assuming the states make revenue-neutral shifts from income/sales taxes to property taxes, would rates need to be 8-10% to fund both state and local services? Or would they need to closer to 20% due to decreased in property valuations?
Would such a shift make the state revenues more stable and improve their economies? Or would it be worse than status quo?
What property rates would be needed to fund states like California and Massachusetts without sales or income taxes? What would be the effects of such a shift?
byu/DreadPirateBlobbert inAskEconomics
Posted by DreadPirateBlobbert