TriadCity Message of the Day
For 10 years or thereabouts the real estate listings page has featured this notice:
"Remember that at some point in the future real property will become taxable. Right now it's not, but, it's inevitable."
The future is now.
Player houses and their contents are taxed at the annual property tax rates prevailing in the Thirds:
- NorthEast: 2%
- NorthWest: 3%
- South: 1%
Note that while these rates are annual, the assessment is levied daily. You'll need to have at least a few Dinars in your bank account every day.
Note that the assessment includes the value of the house's contents at the moment when the levy occurs.
The quantities assessed don't tend to be super large. Naturally if your house is filled with a gazillion diamond helmets the tax will be larger. Duh. Your mileage will vary.
To make the formula as clear as possible, note the distinction between value and price. Tax assessments are levied as a percentage of the sale price of the house itself, plus the combined values of its contents.
What happens if you don't have enough bucks in the bank to cover the daily charge?
The Third will confiscate stuff from your house to cover the tax. It makes an attempt to choose Items to confiscate which have values that are as close as possible to the tax assessment. On the whole it'll bag the least valuable items first. But note the logic. Eventually all the cheap stuff'll be taken, and the expensive stuff'll be next. Let this go on long enough and everything inside the house will eventually be gone.
What happens then?
The house is seized and put up for sale by the Third.
Why do this at all?
Primarily, as a way of reclaiming hoarded objects stashed away by dormant players. It's another form of use it or lose it.
Questions? Use the BBS.