this post was submitted on 11 Jan 2024
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I have seen the amount paid in property taxes in USA via Zillow and... It is HUGE. No surpries that rents are so high. Rent have to cover minimum taxes, maintenance and part of house value. These expenses set the minimum value of a rent. But why you have so high property taxes? Cause enterprieses and billionaires don't pay taxes and cause they put their huge capitals also in real estate, raising the prices. The problem is that real estate is a right ( house ), but also an asset.
People called me crazy when I didn't like the fact that they wanted free public transit and for all the bus costs to be put into people's property taxes. My only argument was those that actually need free bus fare, will be unable to continue affording their places they rent because property tax will go up. They will end up paying the same, if not more in the long run..all for free transit. People couldn't grasp it and resorted to verbally attacking me. Lol I still laugh.
I think the best solution is tax brackets for houses, like we do income. 0.1% for anything under 200,000, .4% under 500,000, and so on. Get that transit fund from those that won't use it anyways but rely on the labor of others to fund their mansions.
The tax bracket is for the landlord, if the landlord pay 0.4% , you pay 0.4%.
Any owner.