Comment on Baby boomers want to axe property taxes. Millennials and Gen Z would pay for it.
Bustedknuckles@lemmy.world 2 days ago
I’ve seen the idea floated that we jack up property taxes, exempting owner-occupied homes. I don’t think it’s that bad for seniors to downsize and increase housing liquidity and let people who want to get more out of local communities for their tax burden. We’re facing a lot of resistance to taxes and our schools are getting disrupted by budget shortfalls. I’m happy to pay more because I have kids who use the parks, sidewalks, schools, library, etc. a lot of seniors use less and don’t want to pay more. So maybe low-but-nonzero property tax for owner-occupied, and high tax for landlords like me!
brucethemoose@lemmy.world 2 days ago
It would still stuck for anyone stuck with renting.
CookieOfFortune@lemmy.world 1 day ago
But it would increase the supply of homes since it disincentivizes investment properties.
Bustedknuckles@lemmy.world 2 days ago
It’s true that some landlords would jack up rent rather than sell - especially as some people are stuck renting in a tighter market. Ideally you could separate corporate landlords from onesie-twosie landlords? A big issue is that landlords and banks are happy to artificially tighten the market with vacant housing. I think Vancouver Canada had a law that levied taxes on unoccupied housing - I should look into how that went