They could also tie it to occupancy. If a functional residence goes more than half the year without someone living in it, property tax is quintupled.
There’s danger to writing such a law correctly, unfortunately. I recall something in Ecuador where people were leaving extensions to their home just barely unfinished so that they could avoid certain residence laws until they had a buyer.
kameecoding@lemmy.world 2 days ago
And companies own, or even better that better have some good reasoning for buying a property that’s for living.
Delphia@lemmy.world 2 days ago
With an exemption for the first 5 years after building. Companies and investors need to be incentivised to build property not hold onto it.
shortrounddev@lemmy.world 19 hours ago
The incentive to build new housing is to then turn around and sell that housing, they don’t need an incentive, they need permission.