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| I cannot quote a specific statute, but my friend in South Carolina declares property every year upon which he pays a tax. | |
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That is a tax on real property (the value of land, housing, etc.) located in the state. That tax does not apply to real property held in other states, nor on total assets. Thus, that is not a tax on wealth (total assets less total liabilities).
Please see the Grant Thornton publication I linked to above: "There is no wealth tax in the U.S."