[MrGompers]

Originally Posted by RunD1987

I could see it pushing housing cost down. If you made $75K and own a $500K house paying close to $10K.

Actually probably work better if tier was based off property value than income. So it take a percentage of your highest property value.
So $1K to $25K taxed at .5% with a .1% rebate back from the town/city of amount paid.
$25K to $75K taxed at 1% with a .5% rebate back from the town/city amount paid.
$75K to $500K taxed at 2.0% with a 1.5% rebate back from town/city of amount paid.
$500K to $1 Million taxed at 2.5% with a 2% rebate back from the town/city amount paid.
$1 Million + 3.0% with a 5% rebate back from the State of amount paid.

Give it up already. A system like this is far too complicated and would require far too much verification. Increased verification would also most likely require more Govt employees with pensions. We know that at least 99.9999999% of the posters here hate Govt employees, so hiring more of them won't fly.

Incomes fluctuate more than housing values especially in CT, so add in another economic downturn like we had in 2008+ and the towns would be scrambling to keep the lights on when they see their tax collections drop like a rock.

[RunD1987]

I still support a candidate of they wanted to consider doing away with propery tax. Few States are exploring the idea and how to compensate for the change in budgets. Defiantly be a game changer if CT could be one of the first States to do away with Property Tax. Though it probably mean an increase in sales or income tax.

[BPt111]

“That leads me to be believe there has been a decrease in wages paid, or those who left the state were the higher income folks,” said Fasano. “If we have a deficit, we need to come in right away ... If you wait and you wait and you wait, you get in deeper and deeper.”

“We still have the migration of high-wealth individuals. People don’t decide to move to Florida in a week. They plan for years.”

State budget deficit looms into 2018 - Connecticut Post

[GeoffD]

Originally Posted by RunD1987

I still support a candidate of they wanted to consider doing away with propery tax. Few States are exploring the idea and how to compensate for the change in budgets. Defiantly be a game changer if CT could be one of the first States to do away with Property Tax. Though it probably mean an increase in sales or income tax.

It will never happen. Local property taxes support GreatSchools.com 10-rated schools in the leafy suburbs. After you take away local funding and local control, the children of the college educated professionals in those towns eventually end up attending the same regional public schools as the unwashed masses.

[JayCT]

Originally Posted by RunD1987

I still support a candidate of they wanted to consider doing away with propery tax. Few States are exploring the idea and how to compensate for the change in budgets. Defiantly be a game changer if CT could be one of the first States to do away with Property Tax. Though it probably mean an increase in sales or income tax.

As I asked you before, how do you propose to pay for local services if you eliminate property taxes? Someone has to pay for them. It is easy to propose pie-in-the-sky ideas that save you money but they are just not realistic or implementable. Jay.

[civis]

Originally Posted by RunD1987

I could see it pushing housing cost down. If you made $75K and own a $500K house paying close to $10K.

Actually probably work better if tier was based off property value than income. So it take a percentage of your highest property value.
So $1K to $25K taxed at .5% with a .1% rebate back from the town/city of amount paid.
$25K to $75K taxed at 1% with a .5% rebate back from the town/city amount paid.
$75K to $500K taxed at 2.0% with a 1.5% rebate back from town/city of amount paid.
$500K to $1 Million taxed at 2.5% with a 2% rebate back from the town/city amount paid.
$1 Million + 3.0% with a 5% rebate back from the State of amount paid.

Then cities of 75 000 or more can add a 10% tax or lower to service fee to cover school's and municipalities in various cities in CT.

So say you have a $200K house it cost $4,000 in taxes + another $400 if in a larger city in CT.

There's no need for such complex tax system.
Most of property tax money go towards school funding - all CT needs to do is to make school tax part of income and sales tax, and start funding all school districts equally from the state budget. This will drastically improve average education quality and boost the economy by providing well educated people to the labor pool and reduce number of ghetto type folks which are destined to either join gangs or sit on welfare all their life.
This will also reduce prop. taxes by something like 80% from current levels, which are unsustainable anyway.

The US currently has one the worst average school quality and the highest property taxes in the developed world - the correlation is obvious.

[JayCT]

Originally Posted by civis

There's no need for such complex tax system.
Most of property tax money go towards school funding - all CT needs to do is to make school tax part of income and sales tax, and start funding all school districts equally from the state budget. This will drastically improve average education quality and boost the economy by providing well educated people to the labor pool and reduce number of ghetto type folks which are destined to either join gangs or sit on welfare all their life.
This will also reduce prop. taxes by something like 80% from current levels, which are unsustainable anyway.

The US currently has one the worst average school quality and the highest property taxes in the developed world - the correlation is obvious.

I do not agree with you on this. Please post your source on quality of schools and property taxes. I am not sure how funding all school districts the same statewide will improve school performance. It does nothing to change the socio economics of the students. And if local taxes are decreased, state taxes will have to go up saving nothing. Jay.

[RunD1987]

Think quality is over rated and more what the kids/parents put into it that matters.

Though I would support a State school tax with a reduced income, sales, and property tax or elimination of one of these 3.

Interesting idea by a candidate for N.Y. Governor. It's morr about prisons, but could work for public school's.

Could privatize school's open to the public. Pay the private school's based off their sucess rate (student's finishing grades/grades/going to high school/etc...)

[BPt111]

Teachers in Connecticut can not afford buy home in state due to their low wages. What going on in CT

Report: In Connecticut Cities, Teachers Can Rent, But Must Wait To Buy | WNPR News

[ads94]

The only realistic changes to Connecticut's school system will be increased regionalisation. The only significant cost reductions again will be regionalisation. The fantasy of just saying "reduce taxes, abolish this tax" is nice, but it's just that - a fantasy. A vast majority of the money collected at both the state and local level are used for things that either are A) politically untouchable or B) contractually obligated.

The reason why Connecticut's economy is so bad is because of the pension and state employee healthcare obligations that hang around our neck like an albatross. The tax rates are fine. Once Connecticut can finally deal with this issue, which will plague us for about another 15ish years or so, the state will have an economic renaissance. We are doing very well even now, all things considering.