Monday, June 06, 2005

Pity the Poor Hyper-Rich Taxpayers

What prompted Nevada to cap second home property tax hikes to 8 percent for the next two years? A tax revolt among the extreeemly wealthy residents of Incline Village on Lake Tahoe. One property there is listed for sale at $60 million. "Some residents are paying as much as $75,000 a year in property taxes," says the Christian Science Monitor. What the paper doesn't say -- those Incliners can afford any tax hike; it's the swankiest lakeside community.

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