Adonis Diaries

Posts Tagged ‘property taxes

What you should be entitled to:

Home Residential property and speedy inheritance procedure

Every individual, regardless of gender, nationality, citizenship, wealth status… is entitled to his residential property called and designated as Home.

Home can be a single family house, a flat, an apartment, a family building, a tent… anything that can serve as shelter and the individual is willing to designate it as his Home.

A designated Home is free from any kinds of property taxes, State or municipality.

A designated Home cannot be put on the market for sale before a substitute home is officially designated.

A designated Home cannot be mortgaged or submitted to any kinds of mortgage schemes before a substitute home is officially designated to move in.

A family building where every member or child is allocated a designated Home flat is Home for the family and no flats can be sold or mortgaged until the adult member buy a substitute home.

Taxes are levied on the rented out flats designated as Home.

For many first time home buyer, what they purchased could be their designated Home, and loans should be State supported and funded at very low interest rates.

All other properties, except the designated Home are subjected to the laws of taxation, mortgage, investment and sale.

You should be entitled to speedy, cost free or inexpensive inheritance procedures.

Distribution of the inheritance should be nominally assessed and the splitting given a reasonable time to be effectively consummated among the members without any additional cost.

No upfront taxing on inheritance is to be applied, even cash inheritance.

A reasonable time lapse is needed before an inheriting individual reflects and makes up his mind on what to do with his inheritance. A designated inherited Home could be an alternative.

Taxing inheritance before it has been invested, fructified and well-thought out is a kind of taxing a new life change for an inheriting person.

Inheritance can be a seed for a new life and States should not spoil an opportunity to turn a leaf and plan for a new future.

Wealth cannot move and expand if inheritances are taxed upfront and the person is robbed of an opportunity to figure out what to do with his inheritance.

States taxing laws will have plenty of time to confront what the State needs from inherited properties for the welfare of the community, but never upfront, acting like mafia and having little faith in the good behaviour of its citizens.




June 2023

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