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If you're talking about a true 1%er they're hiring handy-man types and maids. They're paying property tax on those homes, funding roads and schools they will n

If you're talking about a true 1%er they're hiring handy-man types and maids. They're paying property tax on those homes, funding roads and schools they will never use. It's highly likely they are paying other state and local taxes too, including but not limited to income taxes. All of the other 1%ers who come into that area are spending money at local restaurants or other venues which is pulling money out of the 1% and into the hands of locals. If you're talking more like a 20%er, then they are either doing the same thing, or they live locally so even though they're not hiring a maid/handy-man, money is going from the 1%er to a person living in the local economy (themselves).

mistermann 9y ago
Whew, I feel better now that it's clearly going to all work out with just a temporary minor hiccup as the economy readjusts.
- Consultant32452 9y ago
  If the citizens of these towns want more affordable housing, they are free to vote such zoning into existence. If they continue to shoot themselves in the foot, then I'm not sure how many crocodile tears I'm supposed to shed for them.
  - mistermann 9y ago
    Oh right, in a democracy "the people" make the decisions, I forgot about that. /s
    - Consultant32452 9y ago
      The smaller the government the easier it is for the people to have control. I mean, we're talking about towns of a few thousand people here. It has to be pretty easy to sway an election over a single issue like this if the people are in your favor.
ChuckMcM 9y ago
I see it a bit differently, I started from a differential point of view like this; Assume the cabin exists. It can be owned by someone who lives in it, or someone who really just rents it. In either scenario property taxes are going to be paid. And in either scenario the cabin will be maintained by local service agencies (plumbers, electricians, etc). The only difference might be that the 1%er is paying a laundry and maid service, and a local to pick up and give out the keys to the place. There is no special "business property tax" for AirBnB/VRBO type rentals and according to Fresno many VRBO/AirBnB types don't actually report their income (this annoys the state equalization board), and according to the Sunnyvale city manager people who rent out rooms or their houses should have a business license but they generally don't and it is hard to enforce. My suggestion was that if you differentiated between a VRBO/AirBnB place and a bonafide hospitality business, like a Bed and Breakfast, there is both significant additional tax revenues and additional documented employment.
- Consultant32452 9y ago
  Everywhere I've ever lived had higher property taxes on homes which were not your primary residence. At the very least people are paying those increased rates. If a person isn't reporting their income, that's a federal crime, and we have enforcement mechanisms for that. They might be lagging a bit, but if there's anything the government is fairly good at, it's making sure you're paying income tax. In what way is a bonafide Bed and Breakfast going to result in additional documented employment? All of the bonafide BnBs I've stayed at were completely run and maintained by the home owners.
  - tmnvix 9y ago
    > Everywhere I've ever lived had higher property taxes on homes which were not your primary residence. Nowhere that I've lived has had this. Not that I've ever lived in the US.
    - kthejoker2 9y ago
      Can confirm this is a thing in Texas and Kentucky. Expect second home taxes to rise in the next few years.
fooker 9y ago
AKA Trickle down economies
- deleted 9y ago
  [deleted]
- Consultant32452 9y ago
  You might have an argument except that the other option for these guests, the ski resort, is 100% going to be owned by the 1%. Conversely, the AirBnB properties are likely to be owned by the 99%. Let's all take a deep breath and understand that the big complaint here is that the poor and middle class people in this town are becoming more wealthy, because their property value is skyrocketing.

mistermann 9y ago

Whew, I feel better now that it's clearly going to all work out with just a temporary minor hiccup as the economy readjusts.

Consultant32452 9y ago
If the citizens of these towns want more affordable housing, they are free to vote such zoning into existence. If they continue to shoot themselves in the foot, then I'm not sure how many crocodile tears I'm supposed to shed for them.
- mistermann 9y ago
  Oh right, in a democracy "the people" make the decisions, I forgot about that. /s
  - Consultant32452 9y ago
    The smaller the government the easier it is for the people to have control. I mean, we're talking about towns of a few thousand people here. It has to be pretty easy to sway an election over a single issue like this if the people are in your favor.

ChuckMcM 9y ago

I see it a bit differently, I started from a differential point of view like this; Assume the cabin exists. It can be owned by someone who lives in it, or someone who really just rents it. In either scenario property taxes are going to be paid. And in either scenario the cabin will be maintained by local service agencies (plumbers, electricians, etc). The only difference might be that the 1%er is paying a laundry and maid service, and a local to pick up and give out the keys to the place. There is no special "business property tax" for AirBnB/VRBO type rentals and according to Fresno many VRBO/AirBnB types don't actually report their income (this annoys the state equalization board), and according to the Sunnyvale city manager people who rent out rooms or their houses should have a business license but they generally don't and it is hard to enforce. My suggestion was that if you differentiated between a VRBO/AirBnB place and a bonafide hospitality business, like a Bed and Breakfast, there is both significant additional tax revenues and additional documented employment.

Consultant32452 9y ago
Everywhere I've ever lived had higher property taxes on homes which were not your primary residence. At the very least people are paying those increased rates. If a person isn't reporting their income, that's a federal crime, and we have enforcement mechanisms for that. They might be lagging a bit, but if there's anything the government is fairly good at, it's making sure you're paying income tax. In what way is a bonafide Bed and Breakfast going to result in additional documented employment? All of the bonafide BnBs I've stayed at were completely run and maintained by the home owners.
- tmnvix 9y ago
  > Everywhere I've ever lived had higher property taxes on homes which were not your primary residence. Nowhere that I've lived has had this. Not that I've ever lived in the US.
  - kthejoker2 9y ago
    Can confirm this is a thing in Texas and Kentucky. Expect second home taxes to rise in the next few years.

fooker 9y ago

AKA Trickle down economies

deleted 9y ago
[deleted]
Consultant32452 9y ago
You might have an argument except that the other option for these guests, the ski resort, is 100% going to be owned by the 1%. Conversely, the AirBnB properties are likely to be owned by the 99%. Let's all take a deep breath and understand that the big complaint here is that the poor and middle class people in this town are becoming more wealthy, because their property value is skyrocketing.