The sky is blue
How would people here feel about a tax that increases in rate per-property owned? People and organizations can still own as many properties as they want, but at some point they’re going to be taxed so much it’ll be impossible to profit off of them.
It’s already like that where I live. It’s called the homestead exemption – property taxes are cut in half if it’s your primary residence
The homestead exemption is not a tax. It is a discount on tax. Therefore there is no penalty for owning extra homes. Landlords not only benefit from the homestead exemption but also get you to pay the property taxes on the house you’re renting.
The problem right now is one of supply and demand, not because corporations are buying up too many properties. It’s the other way around where corporations are buying up properties, because due to not increasing supply, and demand continue rising, it’s a good investment.
We need more high density housing all over the place. I live in a nice little town right outside a large US city. We have a train right into the city, and a nice little downtown area that could certainly use more business. They have been trying to put up apartment buildings, but the NIMBY-ism is through the roof. It’s like every little attempt to add more housing, people start whining to high heavens how it is killing our “small town” feel. I mean, I get it, I moved here for a reason, but something has got to give.
I can only imagine what’s happening in more rural areas where everyone wants their big lots and single homes.
So I don’t really oppose increasing taxes per home, but I don’t think it’s really going to solve the issue of increasing home prices as that’s not the root of the issue.
Personally, I’d prefer a monthly fine for unfilled housing, that is based on the rate you are charging for it. Landlord wants to jack your rent up 20%? If you leave, they pay a fine, based on that amount until they fill the unit. The fines go to subsidizing housing costs, so there is a self-balancing system. Right now, with property values increasing at insane rates, owners don’t really need to rent to break even, which leaves them free to price gouge their tenants. There is little pressure pushing rates back down, and there is all the freedom in the world to jack them up as high as you want.
Until we actually remove republicans and republican lites from the legislature I highly doubt we’ll see any progressive tax reforms, like actually taxing the rich. You could probably find more support for expanding house buying programs. Stuff like lowering the down payment requirements, and or give a large grant for a portion of the house value if it is high and it could be clawed back at sale.
How would people here feel about a tax that increases in rate per-property owned?
That’s functionally how the homestead exemption works already
they’re going to be taxed so much it’ll be impossible to profit off of them.
I would simply start a PAC with all my extra money and bribe/coerce politicians into reducing the tax rates.
If I could, I would pass a law saying that no corporation could own more than two dwelling structures. That still allows them to own things up to apartment high-rises. But only two.
No. You make it so that they cannot hold single family dwellings period unless for the purpose of listing and selling them to non-corporate individuals.
There are reasons why a business might actually need or benefit from having a single family dwelling in a way that aligns with their business. For instance a local theatre company owns two large homes here so that when traveling cast come for shows they have somewhere to house them without spending exorbitantly on hotel rooms for weeks at a time, and the cast get a more comfortable stay. The homes are typically occupied at least a portion of each month, and everyone involved benefits.
It’s reasons like these I wouldn’t want to put a total and complete ban on businesses owning single family homes, but in my opinion there should be a reasonable business justification for it and it needs to be very limited.
they’d just make nesting doll structured holding companies with all profits going to the top but any losses being contained within each branch
actually this sounds like a great idea BRB gotta register some LLCs in Delaware
I would think that would be covered under antitrust legislation, but if it wouldn’t be, I guess I would pass that as part of the law.
What frustrates me is there doesn’t seem to be anyone in a position to promote change to this problem that is really talking about it. They may pay it lip service but nothing beyond that.
It’s a national problem, but policies that affect housing are mostly local. So you need to override local control with state/federal policy, or convince a 50,000 municipalities to change their laws.
And the few states that have passed reforms for zoning, etc. are getting sued to shit in court by the city/towns.
This problem was 50 years in the making, it would take more than 50 years to fix.
my rental office rose my rend $200 and I couldn’t afford deposit on a new place. am fucked.
