People who own second and third homes aren't even the issue. It's mega corps that literally own tens of thousands of homes each. A better way to go about it is to just progressively tax people more per home. That second home gets taxed at the same rate but any home after is taxed way way way more. If someone can still afford it then that's fine, just more tax money coming in. That and don't let corps own rental properties.

[–] Know_not_Scotty_does@lemmy.world 7 points 10 months ago (1 children)

In Texas, your property tax is already somewhat two tiered. Your first home is taxed as a homestead and you get an exemption on part of the property tax. If you own a second, third, etc you have to pay the full amount and the annual increases are not capped. Im not 100% sure on the specifics as I don't own more than 1 though.

[–] Got_Bent@lemmy.world 3 points 10 months ago (1 children)

Your not homestead house will be ~$2,000 higher in taxes than if it were not homestead. Exemption is up to $100k I believe, so I'm going off roughly 2% of exemption for additional taxes.

[–] Bocky@lemmy.world 2 points 10 months ago (2 children)

And all that higher tax cost is passed directly on to tenants

[–] Riven@lemmy.dbzer0.com 4 points 10 months ago* (last edited 10 months ago)

At some point the taxes would be so high that nobody could afford to rent and the owners would lose money forcing them to sell. Which is fine. Just gotta make the taxes higher for more than x houses.

[–] calypsopub@lemmy.world 1 points 10 months ago

Bingo. Most of these tax schemes will hurt the renter, not the landlord.

load more comments (17 replies)

load more comments (72 replies)