Saturday, April 26, 2014

Eliminate Personal Property Taxes

Arkansas has a very high tax burden, highest in the south. This is bad for Arkansas, and needs to change quickly.  While almost all of our taxes need to be lowered, some can be completely eliminated.  The most glaring example is our tax on personal non-real estate property (vehicles).  This is the tax that requires us every year to go to the assessor's office and declare what we have so it can be appraised. You then have to go to a different office to actually pay the tax and yet another to register the vehicle. Even if you pay your taxes on time, if you appraise late you pay a tax penalty. Often, an entire day can be wasted just to register a car. Eliminating this tax eliminates an entire bureaucracy and the costs and inefficiencies associated with it.  All across the state there would no longer be a need to rent or build buildings to house assessors offices. Paperwork would be reduced. Workers from these offices could be transferred to DFAS offices, greatly reducing wait times to get a driver's license or register a vehicle. People would no longer have to take a day off work just to renew their license or tags. Eliminating this tax is a no brainer. I suspect most of the revenue it generates does nothing more than fund the bureaucracy that imposes it.

No comments:

Post a Comment