A Boring Dystopia

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Baby boomers' property tax revolt (www.businessinsider.com)

submitted 2 days ago* (last edited 2 days ago) by return2ozma@lemmy.world to c/aboringdystopia@lemmy.world

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[–] Bustedknuckles@lemmy.world 14 points 1 day ago (1 children)

I've seen the idea floated that we jack up property taxes, exempting owner-occupied homes. I don't think it's that bad for seniors to downsize and increase housing liquidity and let people who want to get more out of local communities for their tax burden. We're facing a lot of resistance to taxes and our schools are getting disrupted by budget shortfalls. I'm happy to pay more because I have kids who use the parks, sidewalks, schools, library, etc. a lot of seniors use less and don't want to pay more. So maybe low-but-nonzero property tax for owner-occupied, and high tax for landlords like me!

[–] brucethemoose@lemmy.world 3 points 1 day ago* (last edited 1 day ago) (2 children)

exempting owner-occupied homes

It would still suck for anyone stuck with renting. It would disincentivize renting, but still, would suck short term.

[–] CookieOfFortune@lemmy.world 1 points 17 hours ago

But it would increase the supply of homes since it disincentivizes investment properties.

[–] Bustedknuckles@lemmy.world 1 points 1 day ago

It's true that some landlords would jack up rent rather than sell - especially as some people are stuck renting in a tighter market. Ideally you could separate corporate landlords from onesie-twosie landlords? A big issue is that landlords and banks are happy to artificially tighten the market with vacant housing. I think Vancouver Canada had a law that levied taxes on unoccupied housing - I should look into how that went