this post was submitted on 23 Oct 2023
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Interesting Global News

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[–] [email protected] 23 points 11 months ago (8 children)

Property tax on stocks held outside a tax advantaged account.

You think that's crazy, I pay property tax on my home. I have to come up with money to pay it, whether or not my home made me any money that year.

[–] [email protected] 6 points 11 months ago (2 children)

I think that’s crazy

I also think that’s crazy. In the UK we pay stamp duty, a one time tax when you buy property. It’s much more if it isn’t your primary residence

[–] [email protected] 4 points 11 months ago (1 children)

You pay council tax. It is a different way of collecting the same tax.

[–] [email protected] 1 points 11 months ago (1 children)

Council tax doesn’t pay for any of the things that property taxes do. The USA also has separate taxes for bin collection etc

[–] [email protected] 3 points 11 months ago (1 children)

You're paying for local services and the amount you pay is based on the value of your home. HTH

[–] [email protected] 1 points 11 months ago

Yea but notably property taxes pay for schools in the USA, council tax pays for roads, lights, bins etc

In the UK you don’t get to go to a better school just because your house costs more money

[–] [email protected] 2 points 11 months ago

It's typically about 5% here

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