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nonethewiser • today at 4:46 PM • 3 replies • view on HN

> Then the government has the choice of taxing them at the scheduled rate, or buying the property from them, for that cost.

Uhh... what? How is this not an insane system?

1. You give an accurate, good faith projection.

2. Government taxes you.

   OR
Government buys your house. Weird. You buy a comparable house with the proceeds.

3. Repeat.

Replies

tantalor • today at 4:55 PM

For the tax authority (and the public) it's a win/win:

1. Property is taxed at correct rate (win)

2. City buys property at low cost (win)

➕ show 1 reply
neckardt • today at 4:52 PM

The government would only buy your house if you underestimated the value of your property. You wouldn’t be able to buy a comparable house with the proceeds because it got sold for much less than it was worth.

➕ show 2 replies
JackFr • today at 5:08 PM

Ignore the downvotes -- that is an insane system.