Randomstringofnum t1_j6gwjzd wrote on January 30, 2023 at 5:58 AM Reply to comment by Megalocerus in ELI5: Why does the IRS want your illegal income declared on tax returns? by xCreamPye69 Wrong, when a home increases in value, so does it’s assessed price, assessments determine the value of the home, and property taxes are based on this value, a higher assessment means a higher tax bill. Permalink Parent 1
Randomstringofnum t1_j6gwjzd wrote
Reply to comment by Megalocerus in ELI5: Why does the IRS want your illegal income declared on tax returns? by xCreamPye69
Wrong, when a home increases in value, so does it’s assessed price, assessments determine the value of the home, and property taxes are based on this value, a higher assessment means a higher tax bill.