Re:Why Billionaires Don't Pay Property Taxes in New York
by rtpg on Wednesday May 13, 2015 @02:38AM
(#9537189)
I think the trick is to raise property taxes on un-occupied/secondary housing, because if not you're just raising taxes for everyone.
I doubt the people already living there is small. Most people don't really move out of cities they grew up or went to college in. So we're talking about a substantial chunk of the population. There are cultural arguments for protecting the incumbent population.
Like I said, that's the counterargument as has been presented to me. It's not black and white (obviously). I think the proper solution is stronger transportation and making other areas more livable. But there's a strong argument for making real estate not become just an investment vehicle (literally rent seeking!), and make it more about actually housing people.
I doubt the people already living there is small. Most people don't really move out of cities they grew up or went to college in. So we're talking about a substantial chunk of the population. There are cultural arguments for protecting the incumbent population.
Like I said, that's the counterargument as has been presented to me. It's not black and white (obviously). I think the proper solution is stronger transportation and making other areas more livable. But there's a strong argument for making real estate not become just an investment vehicle (literally rent seeking!), and make it more about actually housing people.