by Nick Giambruno
Do you really own something if the government forces you to make never-ending payments on it?
I think the answer is “no.”
You possess such an item, but you don’t own it outright. It’s an important distinction.
A ridiculous threat to property rights has infected most of the world like a virus. Most people unquestioningly accept it as a normal part of life—like gravity or the sun setting in the west.
The threat I’m talking about is property tax: that annual tax you pay whether or not your property generates any income. Instead, the government bases the tax on the underlying value of real estate you supposedly own. There is no way to pay off this obligation in one fell swoop. It hangs over your head as long as you hold title to the property.
For practical purposes, you don’t really own anything you have to pay an annual property tax to keep. You are merely renting from the government.