Rather than a hard cap, I like the idea of property tax rates that go on an exponential curve depending on how many houses you have beyond the one you live in, which are used either to subsidize building more housing or somehow redistributed.
Rather than a hard cap, I like the idea of property tax rates that go on an exponential curve depending on how many houses you have beyond the one you live in, which are used either to subsidize building more housing or somehow redistributed.
Rivalarrival@lemmy.today 3 days ago
It’s easier to implement as a tax credit. You’re entitled to a 90% rebate on the property taxes for the home you live in, perhaps a 50% credit for a home you own that a family member lives in, and no rebate for additional properties.
One major benefit of this is as soon as a lender initiates foreclosure proceedings, the taxes owed on the property go through the fucking roof. They are motivated to work with you on the loan.