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> For example, a tax on property matched with a deduction on income. You mean income derived from the property? Seems like that could inflate rental prices, a

> For example, a tax on property matched with a deduction on income. You mean income derived from the property? Seems like that could inflate rental prices, and shift the affordability problem to another set of people. The state government in Victoria (Australia) is planning to tax vacant properties, but it's self reported and seems easy enough to dodge. At first the proposed measuring water usage to determine if the property was vacant, but then you can only tax as much as it would cost to leave a tap on. http://www.sro.vic.gov.au/node/5816 http://www.sro.vic.gov.au/node/5816

alkonaut 9y ago
> You mean income derived from the property? No, a regular property tax based on the value of the property. Such as 1% of the value paid in tax every year. The idea would be that it would be zero net effect if you live in the country (i.e. it's a property tax + income tax deduction that effectively make them together be a "tax on properties owned by foreigners")
- bdamm 9y ago
  Tempting, but what if I live in the country and own two properties? Then do I get to perform the deduction twice? If not, then am I punished for having two properties? It would be pretty tough to fine tune this.
  - lhopki01 9y ago
    Yes you should be 'punished' for owning two properties. Or more specifically if you are well off enough to own two properties then you are well off enough to pay for them. Property should not be an investment since it is an essential for living.
    - bdamm 9y ago
      Yes, but the idea was to boost property tax for the purpose of avoiding foreign investment. I'm saying that this might suppress domestic land ownership as well. Someone is going to be the land-lord, it might as well be domestic.
      - lhopki01 9y ago
        Why exactly do we need much private rental accommodation. Singapore seems to be doing very well without a market based approach to housing.

alkonaut 9y ago

> You mean income derived from the property? No, a regular property tax based on the value of the property. Such as 1% of the value paid in tax every year. The idea would be that it would be zero net effect if you live in the country (i.e. it's a property tax + income tax deduction that effectively make them together be a "tax on properties owned by foreigners")

bdamm 9y ago
Tempting, but what if I live in the country and own two properties? Then do I get to perform the deduction twice? If not, then am I punished for having two properties? It would be pretty tough to fine tune this.
- lhopki01 9y ago
  Yes you should be 'punished' for owning two properties. Or more specifically if you are well off enough to own two properties then you are well off enough to pay for them. Property should not be an investment since it is an essential for living.
  - bdamm 9y ago
    Yes, but the idea was to boost property tax for the purpose of avoiding foreign investment. I'm saying that this might suppress domestic land ownership as well. Someone is going to be the land-lord, it might as well be domestic.
    - lhopki01 9y ago
      Why exactly do we need much private rental accommodation. Singapore seems to be doing very well without a market based approach to housing.