Rising Rents Are Pushing More Tenants Past the Breaking Point

Re:Rising Rents Are Pushing More Tenants Past the Breaking P... by adwhit on Thursday October 26, 2017 @01:17PM (#15560960)

The point is that the landlord becomes wealthier through improvements to the area, for which s/he is not responsible. i.e. they are capturing public investment.

Put concretely, my taxes go towards upgrading the Overground Line which improves the area I live in which increases my rent. I have paid for this improvement twice, my landlord, zero times (their get back their taxes through uplift in property value).

Solution - as others have pointed out - is Land Value Tax.

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Re:Rising Rents Are Pushing More Tenants Past the Breaking P... by aaron-lebo on Thursday October 26, 2017 @01:32PM (#15561120)

My landlord takes care of their properties and the area around them increases in value partially due to that. Surely they have some responsibility?

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Re:Rising Rents Are Pushing More Tenants Past the Breaking P... by bmmayer1 on Thursday October 26, 2017 @02:06PM (#15561445)

The landlord has to pay higher property taxes as their property becomes more valuable, which often go in turn to paying for those improvements. It's not a one-way transfer, there's a quid pro quo. Now you may argue landlords get more than they give, but that's an entirely different point.

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Re:Rising Rents Are Pushing More Tenants Past the Breaking P... by njarboe on Thursday October 26, 2017 @02:38PM (#15561712)

True in most places. California's prop 13 caps property value increases for tax purposes to 2% per year. This includes land held by corporations, not just grandma.

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