Billionaires in Europe “evade” taxes just like every other billionaire. Most of their wealth is assets, which is why their tax rates don’t seem right if you don’t understand how economics works.
The property tax rate where I’m at is 1.7%, and the appraisal districts WAY undervalue properties. A house will sell for 5 million in the city where I work, and their value on the tax roll is $300,000.
Billionaires in Europe “evade” taxes just like every other billionaire. Most of their wealth is assets, which is why their tax rates don’t seem right if you don’t understand how economics works.
You still pay tax of assets though…
The property tax rate where I’m at is 1.7%, and the appraisal districts WAY undervalue properties. A house will sell for 5 million in the city where I work, and their value on the tax roll is $300,000.