Property taxes, the lifeblood of local governments and school districts, are one of the most powerful and stealthy engines of racism and wealth inequality our nation has ever produced.
In theory, the property tax would seem to be an eminently fair one: The higher the value of your property, the more you pay.
This results in wealthy communities enjoying lower effective tax rates while generating more tax revenues; at the same time, poorer ones are forced to tax property at higher effective rates while generating less in return.
And for all the taxes Black people paid, they got little to nothing in return.
During those years, the nation’s real estate industry made white-owned property in white neighborhoods worth more because it was white.
Persons:
Biden, Jim Crow
Locations:
Virginia’s, Northern