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Hi Bonnie and Henry, thanks for your question. Soleil at Laurel Canyon is in Cherokee County, which offers the best tax incentive for Seniors in Metro Atlanta. After 62, you pay no school taxes on the first $377,000 in value of your home. It is a bit complicated to estimate taxes based on sales price because the counties in GA usually assess the home below the actual selling price. Soleil is within Cantonâ€™s city limits so additional city taxes apply. I did find one homeowner in Soleil that paid roughly $1600 in taxes (city and county combined) based on a home value of over $400,000.
In the United States, depending upon how Article 1, Sections 2 and 9 of the United States Constitution would be interpreted, the implementation of a wealth tax not apportioned by the populations of the States would require a Constitutional amendment in order to be passed into law. The United States Constitution prohibits any federal direct tax on asset holdings (as opposed to income tax or capital gains tax ) unless the revenue collected is apportioned among the states on the basis of their population.    Although a federal wealth tax is prohibited unless the receipts are collected from the States by their populations, state and local government property tax amount to a wealth tax on real estate.  There is sufficient question about its Constitutionality that the issue is debatable.