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I assume that means, "The obvious solution is to increase property tax on rental properties to force the hand of landlords. Otherwise you're taxing the potenti
by redleggedfrog 3y ago
I assume that means, "The obvious solution is to increase property tax on rental properties to force the hand of landlords.
Otherwise you're taxing the potential and new home-owners who might be on the edge of being able to afford a house.
I'd pretty much go for anything like this at this point that would stop the ever widening gap between average income and average house price - and I'm a landlord.
- seanmcdirmid 3y agoIf you only increased property tax on rentals and not owner-occupied homes, it would basically be a tax increase on the poor (since they are competing for rentals, and landlords that would rent to them all have the same property tax increase). I would never go for it.
- hehhehaha 3y agoMuch of the gap of debt to income comes from interest rates. I don't know what the best way to address this, but I think we can require larger downpayments for investment properties too.
- gandalfian 3y agoRental income already pushes most private landlords into a high tax bracket. Probably at least 20% of rent goes straight back to the government in tax. If the tenant was paying mortgage payments or social housing rent instead then no tax...