The North Dakota group, Empower the Taxpayer writes "On June 12, 2012, the voters of North Dakota will have the opportunity to make North Dakota truly 'Legendary', as the first to pass a state constitutional amendment that will abolish the property tax, prioritize spending by the legislature, and finally give local governments something they never had: true local control over spending."
Public unions and proponents of big government are now involved in a major wave of fearmongering because North Dakota counties get about 60 percent of their revenue from property tax.
If the amendment passes, school districts will simply have to get funding from another source, or cut budgets.
Support Grows For Abolishing Property Taxes
Minnesota Public Radio discussed the setup in North Dakota in an article last November called Support grows for abolishing property tax in ND
Many Minnesota residents expect a bigger bill when their property tax statements arrive this month. But across the border, North Dakota residents are considering a proposal to make the state the first in the nation to abolish property taxes.Michigan Ponders Property Tax Repeal
Supporters gathered more than 28,000 signatures to put that question on the ballot next June.
Backers of the measure say there's plenty of revenue to go around without property taxes. But local government officials say eliminating property tax would create chaos.
In the north central North Dakota small town of Carrington, population 2065, Mayor Don Frye wonders if businesses will build in his city if the snow isn't plowed, or the sewers don't work.
Those are just scare tactics, says Charles Tuttle. He's one of the organizers behind a measure to abolish property taxes.
Eliminating property taxes would put more than $800 million back in the pockets of property owners, stimulate the economy and create thousands of jobs, Tuttle said, referencing the study [Eliminating Property Taxes in North Dakota] from a Massachusetts free-market think tank.
Inquiring minds note that Michigan Ponders Property Tax Repeal
County governments across Michigan are keeping a close eye on Lansing as lawmakers zero in on the possible repeal of the personal property tax.Minnesota House Passes Legislation to Freeze then Phase Out Business Property Taxes
Personal property tax in Michigan is paid by businesses on property not permanently affixed to land, such as furniture, tools and computers. Michigan counties? reliance on personal property tax has increased in recent years as revenue from other sources has plummeted. The state is one of 43 that implement some form of a personal property tax.
Michigan Gov. Rick Snyder?s (R) tax reform plan calls for eliminating personal property taxes. To ease the impact, alternatives have been rumored ? including the state?s taking over court costs. These costs represent one of the largest expenditures for counties in Michigan. Snyder favors a ?revenue-neutral? elimination of the tax, but hasn?t announced any proposal to replace the tax with another funding source.
Michigan is not the only state considering a possible repeal of the personal property tax. A constitutional amendment is being proposed by a citizen petition to abolish the North Dakota personal property tax. The measure will appear on the June 2012 election ballot. Illinois and Missouri are also looking into repealing their personal property taxes, but no legislation has been put forward.
Please consider Minnesota House Passes Tax Relief and Job Creation Act
Saint Paul ? (March 22, 2012) ? The Minnesota House of Representatives today approved the Tax Relief and Job Creation Act by a vote of 72-62.That's a start but I have to ask, why should businesses own their homes free and clear without being subject to onerous taxation but not individual homeowners?
The Tax Relief and Job Creation Act freezes the statewide tax on business property for one year and phases out the statewide tax on business property over 12 years beginning in 2014. It also excludes 70 percent of the first $150,000 of value for all business property in 2013, benefitting small businesses throughout the state especially those in Greater Minnesota.
?Minnesota?s business property tax rate ranks among the highest in the United States. Our property tax relief package helps create a stronger, competitive business climate by freezing the statewide business property tax rate for one year and phasing out this burdensome regressive tax to allow for more investment in products, services and employees,? said Rep. Greg Davids (R-Preston), chief author of the bill.
It's Our Home Not Theirs!
Please consider the following video Robert Hale Co-Author of Property Tax Revolution who says "It's Our Home Not Theirs!"
"The essence of freedom is property rights. It always has been. Yet, if you don't pay the government the tithe that they request, you lose your property."
Indeed!
You Never Own Your Own Home
Property taxes are an insidious form of taxation. They mean you never really own your home. Taxes even go up at the whim of local school boards and teachers unions who perpetually want more money, not for the kids, but for the school boards and teachers' unions.
Property taxes are particularly hard on senior citizens who can literally be taxed out of their own homes.
The public unions and local governments who have their hands in your pockets will be fighting hard with money and fearmongering ads. You can counter with donations to by clicking on the "contribute button" in the upper right of Empower the Taxpayer.
It's time to put an end to property taxes nationwide. The place to start is North Dakota.
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.
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