>As long as people are living in them, what does it matter where the owner lives? I am personally not a fan of paying 40% of my income as taxes to Russian olig

>As long as people are living in them, what does it matter where the owner lives? I am personally not a fan of paying 40% of my income as taxes to Russian oligarchs. When property taxes are lower than the value of the land (and in London they are virtually nil), you effectively have a privatized land tax. The proceeds of those taxes tend to fund kleptocratic billionaires.