Re:We shouldn’t push a positive mindset on those in poverty
by gremlinsinc on Saturday February 19, 2022 @05:37PM
(#30401192)
If we raised separate tax on land (that isn't a primary residence) and luxury property (aircraft, yachts, - anything exceeding 500k)...
Say you have a home you live in that's 300k. You also have a guest house you airbnb and make 50k/year on. There's considered 0 'value' in a primary residence, however you're making 50k/year value off your additional rent. So you'd pay tax on that, above and beyond any other tax.
If you have commercial or other real estate rentals you'd pay as well. The key is that you'd need to somehow peg the tax rate with inflation, and housing prices, etc...to basically make it a self-organized check-system to keep rents from rising, because rising rents means higher taxes.
Perhaps you actually tie the LVT to census data on homeless in a region, less homeless = less taxes, therefore creating solutions to that problem actually is a win:win...
Say you have a home you live in that's 300k. You also have a guest house you airbnb and make 50k/year on. There's considered 0 'value' in a primary residence, however you're making 50k/year value off your additional rent. So you'd pay tax on that, above and beyond any other tax.
If you have commercial or other real estate rentals you'd pay as well. The key is that you'd need to somehow peg the tax rate with inflation, and housing prices, etc...to basically make it a self-organized check-system to keep rents from rising, because rising rents means higher taxes.
Perhaps you actually tie the LVT to census data on homeless in a region, less homeless = less taxes, therefore creating solutions to that problem actually is a win:win...