Re:Rising Rents Are Pushing More Tenants Past the Breaking P...
by jdavis703 on Thursday October 26, 2017 @05:57PM
(#15563472)
The renter actually pays the property tax, it's included in the rent that is charged. There are very few landlords who rent out their property for less than the cost of property tax.
Further many residential properties are owned by LLCs and other corporations that allow them to lock in low taxes by never selling the actual property, but merely the holding company of the property.
Re:Rising Rents Are Pushing More Tenants Past the Breaking P...
by rsync on Thursday October 26, 2017 @06:47PM
(#15563904)
"Further many residential properties are owned by LLCs and other corporations that allow them to lock in low taxes by never selling the actual property ..."
I think you are talking about prop 13 and the ability of corporate entities to benefit from the provisions of prop 13 which I agree, is completely insane.
But prop 13 is limited to California and I know of no other states that have anything comparable.
(long quotation from 4 years prior to the 16th amendment[1])
This is not an accurate assessment of the present state of affairs. Rental income in the United States is taxed at the federal and state level and rental licenses (as well as other licensing) is levied at the local level.
This is not to mention the property taxes that are paid by the landlord - which can be significant.
Your landlord is contributing to the general welfare in a great many ways.
[1] https://en.wikipedia.org/wiki/Sixteenth_Amendment_to_the_Uni...