SoulWager
@SoulWager@lemmy.ml
- Comment on Owing your home today is nearly impossible, but even if you did the ever increasing property taxes will bury you 2 days ago:
Maybe the value of real estate held by corporations is assigned proportionally to the shareholders? Maybe the tax rate is determined by whichever entity has the largest accumulation. I don’t see why it needs to be particularly complicated, can certainly make it enforceable and effective with less complexity than the current tax system.
- Comment on Owing your home today is nearly impossible, but even if you did the ever increasing property taxes will bury you 2 days ago:
Money represents things you do deserve, like the value created by your own work, as well as things you have no moral claim to, like natural resources. What makes sense to me is that the land is owned collectively, and the property taxes are effectively rent to the rest of the population. Makes sense to me that the people that consider it most valuable get to use it.
- Comment on Owing your home today is nearly impossible, but even if you did the ever increasing property taxes will bury you 2 days ago:
Why? You can just force them to sell you a property and pay less on the mortgage than they pay on the same property on taxes.
- Comment on Owing your home today is nearly impossible, but even if you did the ever increasing property taxes will bury you 2 days ago:
Land is a natural resource, and like air or sunlight, nobody deserves to own it more than anybody else.
“But my family has live here for generations!” sounds awful similar to “I deserve it because my great grandfather killed the people that used to live here.”
- Comment on Owing your home today is nearly impossible, but even if you did the ever increasing property taxes will bury you 2 days ago:
So rent is several times more expensive than a mortgage on the same property. Now what?
- Comment on Owing your home today is nearly impossible, but even if you did the ever increasing property taxes will bury you 2 days ago:
What does someone deserve to own? The product of your own work yes, but nobody deserves to own natural resources like land more than anybody else. The whole point is that you get to decide how much the property is worth to you. If it’s worth more to someone else, you’re both better off for the trade. The only losers here are people trying to cheat on their taxes by giving a “low” appraisal, and people trying to hoard multiple properties.
Plug some numbers into that formula. If you own a $100k property, you pay 1k in taxes/year If you own 10 of those properties, you pay 100k/year. This would mean you have to charge more in rent than a mortgage would cost to buy the same property. The business model would become unprofitable.
- Comment on Owing your home today is nearly impossible, but even if you did the ever increasing property taxes will bury you 2 days ago:
Think about what the investment company’s tax rate would look like. They’d be bankrupt instantly.
- Comment on Owing your home today is nearly impossible, but even if you did the ever increasing property taxes will bury you 2 days ago:
Eh, probably paid like 25k for a house that’s worth 500k now. Really what we need to do is make property taxes scale more aggressively, so it isn’t economical to hoard more resources than you can actually use. Maybe something like annual tax owed = (value of all real estate owned by one person)^2/10,000,000. Perhaps with a grace period for new construction/renovations.