Interestingly, while the United States does not have a net worth tax, the U.S. reliance on property taxes (defined as recurrent taxes on immovable property for purposes of the international comparison) is unusual in the OECD pic.twitter.com/MPcZJOg86K
Luxembourg’s treasury earned less than a fifth of one percent--€37m--from property tax, out of €1.3bn in total tax revenue, in 2016.
Other jurisdictions that earned relatively little from property taxes include Austria, the Czech Republic, Switzerland, Estonia and Turkey.
The US is most reliant on property tax, representing more than 10% of the total, the report noted. Governments in Canada, the UK, Israel and France also depend on property taxes for a large part of their revenues.