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Why not just add a tax for homes that aren't your primary residence? Foreigners will not do this since they would need to pay income tax as well?
by mlrtime 11y ago
Why not just add a tax for homes that aren't your primary residence? Foreigners will not do this since they would need to pay income tax as well?
- prostoalex 11y ago1) Easy to game the system. 2) Why? Somebody is already paying 100% of the property tax without putting stress on the roads, the schools, police and fire services, local parks, libraries, and other services that local governments are hired to provide. The neighbors get more bang for their buck, leave alone financial stability that property appreciation brings.
- mahyarm 11y agoThose people also put nothing into local economy through their spending. You get the vancouver effect. No incomes or jobs, but high housing prices. A high tax for unoccupied residences would be a better one. It would increase housing supply so the double whammie of buying a house and leaving it unoccupied wouldn't effect the housing supply nearly as much.