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> And our property tax can be staggering in high-cost areas, and is obviously passed on even to renters. Mine is in the neighborhood of $8,500 a year. The high
by Macha 4y ago
> And our property tax can be staggering in high-cost areas, and is obviously passed on even to renters. Mine is in the neighborhood of $8,500 a year.
The high band of property tax is €300/yr and I've never heard it passed on to renters here.
> Also does Ireland have a "standard deduction"? This is just an amount that everybody gets to subtract before even using the brackets to compute, so our brackets don't really start taxing at dollar #1 like they appear to.
Yes, there's a minimum standard deduction of €3550 (€1775 for single person, plus €1775 for being an employee), that is effectively deducted from the tax bill at the final step, and others may replace these with larger amounts for different categories of workers, life circumstances on top of that.
- CalRobert 4y agoIt would be passed on to renters as a higher price.
- Macha 4y agoIn theory yes, but this tax was introduced in recent memory and the rate of rent increases that year was not noticeably different to the rate of rent increases in other years, as the prices are limited (well "limited") by the ability of tenants to pay, rather than being driven by costs. And the most expensive areas have rent control anyway.
- CalRobert 4y agoTrue, RPZ makes it harder to pass along costs. And it makes sense tenant ability to pay affects rents in the current shortage.