Act of Congress Property Tax Adjustment and Increase Amendment Act

[Darklander]

CONGRESS OF THE
COMMONWEALTH OF REDMONT
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A BILL TO

INCREASE GOVERNMENT REVENUE THROUGH FAIR AND PROGRESSIVE PROPERTY TAXES




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The people of the Commonwealth of Redmont, through their elected Representatives in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:


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PART I — PRELIMINARIES

1. Short Title and Enactment

(1) This Act may be cited as the ‘Property Tax Adjustment and Increase Amendment Act’

(2) This Act shall be enacted immediately upon its signage.

(3) This Act has been authored by Speaker TrueDarklander, using President Technofied's Property Tax Formula.

(4) This Act has been co-sponsored by Representative NovaKerbal.

(5) This Act amends the following acts:

(a) Taxation Act


2. Reasons and Intent

(1) Increasing Tax Revenue with a more aggressive tax formula.

(2) Keeping Taxation fair and progressive.



PART II — AMENDMENTS

3. Amendments to the Taxation Act

(1) Part II, Section 13 of the Taxation Act is to be amended as follows:

13 - Property Tax
(1) Where x is the amount of plots a player owns, and y is the amount taxed per day, property taxes shall be calculated as follows: y = 2.5(x^2)-6x
2.7(x - 2) + 2.87(x - 2)^2 + 0.0462(x - 2)^3
(2) Players shall not be taxed for property tax if they own 32 or fewer plots.

Spoiler: Property Tax

Number of Plots	Taxation Rate ($ per day)	Amount per week ($)
0	0	0
1	0.00	0.00
2	0.00	0.00
3	5.60	39.20
4	17.08	119.56
5	34.61	242.27
6	58.32	408.24
7	88.38	618.66
8	124.92	874.44
9	168.10	1176.70
10	218.08	1526.56
11	275.00	1925.00
12	339.00	2373.00
13	410.25	2871.75
14	488.88	3422.16
15	575.05	4025.35
16	668.92	4682.44
17	770.62	5394.34
18	880.32	6162.24
19	998.16	6987.12
20	1124.28	7869.96
21	1258.84	8811.88
22	1402.00	9814.00
23	1553.90	10877.30
24	1714.68	12002.76
25	1884.50	13191.50
26	2063.52	14444.64
27	2251.88	15763.16
28	2449.72	17148.04
29	2657.20	18600.40
30	2874.48	20121.36
Continues...

Number of Plots	Taxation Rate ($ per day)	Amount per week ($)
1	0	0
2	0	0
3	0	0
4	16	112
5	32.50	227.50
6	54	378
7	80.50	563.50
8	112	784
9	148.50	1039.50
10	190	1330
11	236.50	1655.50
12	288	2016
13	344.50	2411.50
14	406	2842
15	472.50	3307.50
16	544	3808
17	620.50	4343.50
18	702	4914
19	788.50	5519.50
20	880	6160
21	976.50	6835.5
22	1078	7546
23	1184.50	8291.50
24	1296	9072
25	1412.50	9887.50
26	1534	10738
27	1660.50	11623.50
28	1792	12544
29	1928.50	13499.50
30	2070	14490

 

[Technofied]

Presidential Assent

This bill has received Presidential assent and is hereby signed into law.

Reason: This Bill increases the already existing progressive property tax according to a formula I derived a few weeks ago, with the intent to increase Government revenue in light of increasing budgetary pressure.

Below is the original briefing post I made on Discord, when I initially introduced this formula to the public.

resident: :Vbar: **PRESS RELEASE** :Vbar: resident:

*A message from President James Fletcher (Technofied)*

Good evening Redmont,

Following a series of discussions in the public domain (our lovely #politics ), I have landed on a proposal for region tax.

My proposal aims to keep **2 plots tax free**, while also asking those with **substantial plot holdings to pay a greater share of tax.**

It is a compromise between what Senator @zlost. has bravely put forward, which I believe ramps up the tax burden post 20 plots *too* sharply, and the Senate's first version which was an improvement over the original proposal but **lower than what I am putting forward. ** I believe this is the best of both worlds.

I humbly ask our Senators tonight to consider the proposal I put forward, which will be attached at the end of this Press Release.

Tonight, the Senate has voted in the **affirmative** to reduce the tax burden for the first bracket of balance tax from what was originally proposed. This is a sign of our administration's efforts and our prudent Senators' efforts to improve the bottom line while also being fair on our citizens. To the Senate, I thank you for your relentless dedication to the cause.

To all our Congresspeople and Citizens tonight, I thank you for your ongoing efforts and willingness to discuss and debate. Our passion for Redmont is what makes our country stronger, and we are better off for it.

The debate is far from over, we still need to come together to pass a version of this tax reform that we can all get behind. Make no mistake, we still have work to do beyond this Bill. Resuming printing will be a start to relieve budgetary pressure, but now the work begins to draft a framework that does this responsibly.

By the time I wake up, I expect a dozen different pings and invariably disagreement regarding my proposal and others. That's the beauty of democracy, and I wouldn't have it any other way.

Without further ado, here my proposal below! Revenue is projected based on the frequency distribution provided in my earlier Press Release. I have also attached my proposed weekly tax burden, as well as a graphic prepared by Senator @zlost. comparing the different tax burden curves.

Your sleep deprived President,
**James Fletcher (Technofied)**
President


```
My Proposal:
- 2 plots tax free
- From 3rd plot onward: 2.7(x - 2) + 2.87(x - 2)^2 + 0.0462(x - 2)^3

Total daily revenue: 33748.18
Total weekly revenue: 236237.26

Tax table:
owned_count daily_tax weekly_tax
0 0.00 0.00
1 0.00 0.00
2 0.00 0.00
3 5.60 39.20
4 17.08 119.56
5 34.61 242.27
6 58.32 408.24
7 88.38 618.66
8 124.92 874.44
9 168.10 1176.70
10 218.08 1526.56
11 275.00 1925.00
12 339.00 2373.00
13 410.25 2871.75
14 488.88 3422.16
15 575.05 4025.35
16 668.92 4682.44
17 770.62 5394.34
18 880.32 6162.24
19 998.16 6987.12
20 1124.28 7869.96
21 1258.84 8811.88
22 1402.00 9814.00
23 1553.90 10877.30
24 1714.68 12002.76
25 1884.50 13191.50
26 2063.52 14444.64
27 2251.88 15763.16
28 2449.72 17148.04
29 2657.20 18600.40
30 2874.48 20121.36
```
-# P.S. I am exhausted. I apologise for grammar deficiencies. I need sleep! Good night!!

Attached are the projections for this tax change and how it stacks up against other proposed property tax formulas.

Technofied