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A comment on In Switzerland, Most People Rent for Life. Is That What They Want?. Parent comment

Re:In Switzerland, Most People Rent for Life. Is That What T... by jjav on Tuesday November 07, 2023 @06:48PM (#38184792)
> If you’re paying 6%/year in property taxes, a home is no longer an “investment”, and the house hoarding (especially by the likes of investors buying single-family housing) will cease.

It wouldn't accomplish that. The big investors would just shrug, keep buying houses and renting them out, passing your 6% to the renter to pay. Meanwhile regular people would be priced out of their home by taxes, reducing home ownership even further and those big investors would snap up those homes. Repeat cycle until those corporations own 100% of all properties.

You want to incentivize owning and living a home, so I would do 0% tax on primary residence (up to some value limit), maybe 5% on a second home and ratcheting steeply up from there on each additional property owned by a person or entity.

That would wipe out the corporations owning hundreds of homes since they would not be able to profitably rent them out if they're paying 100+% tax on each. Meanwhile regular people can live in the only home they own without tax.

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Re:In Switzerland, Most People Rent for Life. Is That What T... by DylanDmitri on Tuesday November 07, 2023 @07:00PM (#38184917)
Check out land value tax: https://www.astralcodexten.com/p/your-book-review-progress-a...
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Re:In Switzerland, Most People Rent for Life. Is That What T... by jjav on Tuesday November 07, 2023 @07:37PM (#38185237)
I have, many times, since it always comes up. I'm still convinced LVT hurts the small individual homeowner the most, so it's basically the opposite of what I'd want which is to incentivize owning and living a single home instead of corporations hoarding them to rent out.
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Re:In Switzerland, Most People Rent for Life. Is That What T... by DylanDmitri on Tuesday November 07, 2023 @07:55PM (#38185369)
I would be happy extending these incentives to single homeowners, if we also extend similar or greater incentives to people living in condos or apartment buildings.
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Re:In Switzerland, Most People Rent for Life. Is That What T... by nojvek on Wednesday November 08, 2023 @07:54AM (#38189735)
100% agree on this.

Can’t just property tax a fixed amount.

We want most people to affordably own a primary home (their primary address) may be have a vacation or side rental at higher property tax and heavily discourage investors sitting on an array of homes primarily for rent seeking.

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