Re:Detroit wants to be the first big American city to tax la...
by ijustlovemath on Monday October 16, 2023 @08:42PM
(#37908747)
You could easily incentivize the behavior you want:
- a delay or cap on taxes for first time/single home owners; to make it not so punishing if you're just buying it to live there
- a number of properties below which the tax isn't applied or is reduced; to allow people to build equity in their house and maybe a vacation home or two, but stops someone from owning 5+ homes and locking up all the supply
- a tax that applies more heavily to corporate owners of residential homes; to keep the Blackrock's of the world from snapping up significant amounts of residential homes for padding their portfolios. Could even apply to LLCs of a certain size.
- a delay or cap on taxes for first time/single home owners; to make it not so punishing if you're just buying it to live there
- a number of properties below which the tax isn't applied or is reduced; to allow people to build equity in their house and maybe a vacation home or two, but stops someone from owning 5+ homes and locking up all the supply
- a tax that applies more heavily to corporate owners of residential homes; to keep the Blackrock's of the world from snapping up significant amounts of residential homes for padding their portfolios. Could even apply to LLCs of a certain size.
We just need to get creative!