Renters are biggest losers with Measure 2
May 7, 2012 at 7:00 pm in The Dickinson Press
We have heard all kinds of dialogue from the supporters of Measure 2 stating how much it will help North Dakotans, but they have forgotten about the thousands and thousands of North Dakotan that this measure will only have a negative effect on: People that rent. Continue Reading
Measure 2 eliminates property tax and replaces dollar for dollar the property tax revenue with the taxes we are already paying. Renters will benefit by not having to pay property tax if they decide to purchase land or a home. Measure 2 does not require any new taxes and taxes do not have to be raised, we are sitting on a surplus in our state.
Vote Yes to give everyone in our state the right to own their property.
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This editorial ignores economic fundamentals and couldn’t be more wrong. No property tax for anyone is automatically and ultimately reflected as lower rents in a perfectly competitive rent market. A cost that landlords would be more than happy to pass along to renters if they could is ultimately and completely spoiled by competition.
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