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I’m all for higher property taxes to increase courtroom bandwidth, but I doubt most landlords are.
by TimorousBestie 2y ago
I’m all for higher property taxes to increase courtroom bandwidth, but I doubt most landlords are.
- lotsofpulp 2y agoI am. I say hit everyone with a marginal land value tax rate too, so the more land value you own (even via partnerships), the higher your tax rate is.
- vondur 2y agoThose higher property taxes will be passed on directly to the renters.
- TimorousBestie 2y agoLandlords typically despise property taxes (and land value taxes, c.f. sibling comment) because they have to pay them even if their property is unoccupied. They’d much rather pass on the cost of higher rental insurance, or failing that an income tax hike. But anyway, generally speaking, I think they benefit on average more from a slow and inefficient judicial system. The occasional 6+ month eviction battle is a rare negative outcome that comparatively few landlords have to deal with.
- lotsofpulp 2y agoPrices are not solely a function of the seller’s cost of goods sold. Supply and demand determine price, so if there is sufficient supply, then rents will be too low for large landlords to recoup their tax costs, so they will be incentivized to sell the property. This means less rent seeking, and higher supply of housing for buyers.