Question

Although tax relief violates the neutrality principle by creating noneconomic incentives, several states have implemented measures allowing local governments to provide certain relief programs. Programs include the Circuitbreaker program, Tax freeze and tax rate limit, and the Homestead exemption. Discuss which program you think is the most fair or equitable and how such a program positively or negatively impacts the community and the services provided by the municipality. Not counting the question, your post should be 350 words

Answer 1

Consider the homestead exemption program and this can be regarded as one of the best tax exemption programs that can be highly beneficial to the people of United states. The main reasons for considering this project as the best one is due to the following reasons mentioned below. This program is nothing but a legal regime to protect the value of the homes of residents from taxes as well as creditors and the circumstances that arise from the death of the homeowner spouse on the whole. It has to be noted that this law is taken from the roots of the Spanish empire principles. Such rules are always helpful to the families of the victim who may get to die unexpectedly due to some threatening reasons as well as crimes on the whole. There is a saying that an accident doesn't mean a single death of a person but at times it can also lead to the downfall of the entire family on the whole. At such instants there is a lot of responsibility on the government to take a huge amount of care on the fellow citizens and for such cases, the government must be appreciated a lot for coming up with such wonderful programs in the whole.

Homestead exemption laws typically have four primary features:

1. Preventing the forced sale of a home to meet the demands of the creditors except mortgages or mechanical liens including the  sales to pay property taxes
2. Providing the living spouse  with shelter
3. Providing an exemption from the taxes on property etc.
4. Allowing a tax-exempt homeowner to vote on property tax increases to homeowners over the threshold, by bond or millage requests

However this can also get to result in negative impacts in the future where they include cases even the living spouse is too rich and not collecting taxes from them is something highly meaningless and ultimately the common people are cheated.