Do we force people to sell pieces of their property to pay the taxes on that property? (In short, for many types of property, yes, but it still has always seemed strange to me)
Not that strange, really. If your income tax at the end of the year leaves you in the red, you might sell some of your property to balance your accounts.
Just like how plenty a corporation, or rental property, has been sold because it was too expensive to hold profitably. In the case of land in particular, people who make poor use of it and fail to extract a profit probably should be forced to sell it. That's the market correcting their inefficient use.
Seems reasonable in a business context but normal folks should have a more generous carve out for a single home, single property, etc. assuming utilized for personal use
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Not that strange, really. If your income tax at the end of the year leaves you in the red, you might sell some of your property to balance your accounts.
Just like how plenty a corporation, or rental property, has been sold because it was too expensive to hold profitably. In the case of land in particular, people who make poor use of it and fail to extract a profit probably should be forced to sell it. That's the market correcting their inefficient use.
Seems reasonable in a business context but normal folks should have a more generous carve out for a single home, single property, etc. assuming utilized for personal use