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This is what Vancouver has tried [1]. It doesn't seem to have worked. The problem here is that it's too easy to game. You can put in a token resident. The same
by cletus 5y ago
This is what Vancouver has tried [1]. It doesn't seem to have worked.
The problem here is that it's too easy to game. You can put in a token resident. The same can apply to having income limits on houses. You have a low income resident who just happens to have rich friends who visit.
I think we need to attack the idea that rich people use real estate to park money and avoid taxes.
[1]: https://www.bloomberg.com/news/features/2021-08-16/taxing-the-rich-do-housing-prices-fall-when-empty-second-homes-are-taxed https://www.bloomberg.com/news/features/2021-08-16/taxing-th...
- xrd 5y agoIt seemed too easy. Thanks, good link.