Ever wonder about property taxes, how they’re set, and what they cover?
Specifically, the largest component of most property-tax assessments are for schools.
Virtually every State Constitution calls forth a State duty to provide a free public education.
Ok. Fair enough. I can argue against that quite-easily but so long as it’s present in State Constitutions the law has to be followed in that regard.
But on whom should the funding costs fall?
Answer: Those closest to the output of the program, who thus have every incentive to do something about it if it sucks.
That’s not you, as a common citizen. If the schools suck in your local area you don’t, for the most part, get the direct costs. If you’re a parent at age 18 your offspring are no longer your responsibility. You can throw them out of the house — literally.
Now it’s certainly true that the indirect costs wind up on the citizens — mostly through crime and social dependence.
The direct costs fall on the local employers.
This post was published at Market-Ticker on 2017-09-10.