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A comment on New Zealand to ban foreigners from buying existing houses. Parent comment

Re:New Zealand to ban foreigners from buying existing houses by njarboe on Thursday October 26, 2017 @07:50PM (#15564318)
In California you get $7,000 off the assessed value of your home with the homestead exemption. So ~$70 off your yearly taxes. Must have been much more important value when this was passed into law but almost nothing now on the usual $10,000/yr prop tax bill.
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Re:New Zealand to ban foreigners from buying existing houses by matwood on Thursday October 26, 2017 @09:20PM (#15564819)
Where I live it’s a straight property tax reduction. In my current house I pay 1500/year in property taxes. If it was not my primary residence the property tax would be between 6k-8k.

Instead of changing the assessed value, it lowers the percentage of tax paid on the value.

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Re:New Zealand to ban foreigners from buying existing houses by seanmcdirmid on Thursday October 26, 2017 @08:50PM (#15564659)
I think parentnis referring to the federal income tax deduction on interest, which most definitely is significant if you are able to itemize.
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