JPMorgan to spend $1B on rental homes in the US to become a megalandlord

Re:JPMorgan to spend $1B on rental homes in the US to become... by iso1631 on Sunday January 01, 2023 @11:24AM (#34207626)

My understanding is US property taxes are higher if you build property on them. a vacant 1000 square foot lot will attract less tax than the neighbouring 1000 square foot plot with a house on. Is that not right?

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Re:JPMorgan to spend $1B on rental homes in the US to become... by naveen99 on Sunday January 01, 2023 @12:43PM (#34208614)

Land and improvement are taxed at the same rate, based on appraisal. There are certain exemptions for farmland, homestead etc.

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Re:JPMorgan to spend $1B on rental homes in the US to become... by iso1631 on Sunday January 01, 2023 @12:59PM (#34208798)

So improvements which shouldn't be taxed are taxed. The land owner of an empty acre pays far less tax than the land owner of an acre with 40 people living there. That's wrong.

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Re:JPMorgan to spend $1B on rental homes in the US to become... by sokoloff on Sunday January 01, 2023 @01:14PM (#34208942)

The 40 people living on that acre demand more local government services (schools, libraries, fire/police protection, etc.) which are paid for with property taxes (in general) than the empty acre does.

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Re:JPMorgan to spend $1B on rental homes in the US to become... by iso1631 on Sunday January 01, 2023 @01:26PM (#34209092)

And thus you miss the entire point

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Re:JPMorgan to spend $1B on rental homes in the US to become... by sokoloff on Sunday January 01, 2023 @01:35PM (#34209203)

That the people who use government services should, on average, pay money towards supporting those government services?

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Re:JPMorgan to spend $1B on rental homes in the US to become... by iso1631 on Wednesday January 04, 2023 @05:32PM (#34252871)

That's the principal behind capitalism, not government services.

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