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I guess stepped up basis is considered a loophole
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Distance Runner
Posted 7/1/2020 14:35 (#8347790 - in reply to #8346784)
Subject: RE: I guess stepped up basis is considered a loophole

SE SoDak
trapperjon - 7/1/2020 06:17

Read your thread and one thing that caught my attention is that absentee property owners don’t support schools. I don’t agree with this as the property taxes that are paid by all property owners go to schools and local county governments. In most cases the land owners are by far the largest supporters of the schools no matter where they live. Fyi

Well, yes, they pay the property taxes like everyone else of course. I specifically noted that. But the taxes would also be paid by local owners. And if the income from the land was kept locally, the multiplier effect of that income would be felt via spending at local businesses (who would also pay tax), and perhaps our main streets would have fewer vacant buildings (more local revenue, again).

A well-functioning community needs more than tax money, which is the point I was trying to make in regard to supporting schools, and perhaps didn't do very effectively. Absentee landowners don't send their kids to the local schools, don't serve on school boards, don't coach little league or lead the Boy Scouts or serve leadership roles in a local church or any type of organization that helps educate our youth and make our communities thrive (and yes, I've done several of these). It's getting tough to find willing people, in part because so few actual people are left in some rural counties. Absentee owners aren't bad citizens....they just aren't present.
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