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Depends on if the space could be occupied with others that also reside there and so pay income and other taxes as well. The property tax factor won’t be as high
by yardstick 8y ago
Depends on if the space could be occupied with others that also reside there and so pay income and other taxes as well. The property tax factor won’t be as high I guess, but maybe the income and sales tax from their living in the city would make up for it?
- kristianc 8y agoThe others who reside there also won’t be as invested in improving the local area as an owner-occupier would be, as most of the benefits of the area becoming nicer would accrue to the landlord through the rental market.
- yardstick 8y agoCould have middle class owner occupiers rather than ultra wealthy owner-unoccupiers?
- closeparen 8y agoAt the point where only international oligarchs can afford to live there, the neighborhood has been improved way too much.
- kristianc 8y agoWell quite - but that won't bother owner unoccupiers until it starts to have an effect on the value of their property. Municipal authorities that have to deal with completely hollowed out areas of town on the other hand..