LandThink

Rural counties largely depend on the property tax to finance their activities. Taxing real estate for local government is a legacy from the days when land ownership was the principal source of individual wealth.

What are the real-estate tax policies of Senators McCain and Obama? I’m not sure reliable answers are available. Campaign promises are preferences, not contractual obligations. Circumstances — the economy…

When you buy land, you need to establish your “basis” for tax purposes. Starting basis is basically your purchase price, plus, perhaps, certain expenses that you incurred.

Readers might take a look at the two presidential campaign websites to see which candidate appears to understand land issues best (or if at all). Tax policy is often used by the government to discourage and encourage certain behaviors. How each of us defines the best interest of the country determines what our tax-policy preferences are.